Trump's tariff hike on EU metals sparks economic backlash
The European Commission reacted strongly to Donald Trump's decision to raise tariffs on steel and aluminum imports from the EU to 50 percent. Brussels announced possible retaliatory measures and warned that this move would harm the global economy and affect industries on both sides of the Atlantic.
The increase in U.S. tariffs on steel and aluminum imported from the European Union to 50 percent was met with an immediate and intense response from the European Commission. EC spokesman Olof Gill called Donald Trump's decision "regrettable" and warned that Brussels would not hesitate to respond with retaliatory measures.
In a statement released on Saturday, Gill voiced strong concern over the newly declared hike in U.S. steel tariffs, warning that the decision adds to global economic uncertainty and drives up expenses for both consumers and businesses in Europe and the United States.
He also emphasized that the European Union acted in good faith by suspending its retaliatory tariffs on April 14, allowing negotiations with the U.S. to continue. Meanwhile, Washington decided to take a stricter stance.
The European Commission spokesperson noted that, in the absence of an agreement acceptable to both parties, the EU will proceed with both existing and planned measures on July 14, or possibly sooner if necessary. At the same time, Brussels is in the process of assembling a list of prospective restrictions aimed at defending the interests of European industry, consumers, and employment.
Donald Trump justified the decision to raise tariffs by citing the necessity to protect the American steel industry.
The new rates are set to take effect on June 4. The United States remains the largest importer of steel in the world – according to the dpa agency, in 2024 alone, they imported the most of this raw material globally.
