Juncker says European Union must respond if United States finalises steel tariffs

Juncker says European Union must respond if United States finalises steel tariffs

Auto lobbyists were still scrambling to learn the details of the tariffs, said to be 25 percent on foreign steel and 10 percent on foreign aluminum, and whether they would apply to all countries and for what time period.

Trump announced new trade restrictions Thursday, including a 25 per cent tariff on steel imports and 10 per cent duty on aluminum, but didn't say whether Canada would be exempt.

Navarro, the director of the Office of Trade and Manufacturing Policy, during the interview argued that China is the source of the problem despite its low place on the list of exporters. The reality is America's steel mills have a modest employment base (maybe 140,000) because of modern production techniques, not foreign competition.

He did not specify if the tariffs would target specific countries, but his announcement caused an outcry among U.S. allies such as Canada, the EU, Mexico and Australia as well as China, the world's biggest steel producer.

"We must show that we can also take measures".

"I'm not saying we have to shoot back, but we must take action".

"This welcome action is long overdue for shuttered steel plants across OH and steelworkers who live in fear that their jobs will be the next victims of Chinese cheating", he said in a statement Thursday.

But Trump, who on Friday declared that "trade wars are good and easy to win", seemed nonplussed by the reaction, also tweeting on Saturday that leaders "laugh at what fools our leaders have been".

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Mitchell said China could end up slapping their own taxes on major Iowa exports like soybeans, corn and pork - and they could come quickly.

His company makes mini metal components for industries like health care and aerospace, and he gets material from domestic and global sources.

While Trump has routinely singled out China for its steel and aluminum exports to the USA, the president, in his off-the-cuff remarks on Thursday, did not say specifically whether Canada and/or Mexico would be subject to the new measures.

Nor have past protectionist measures saved the steel industry, as Trump says his tariffs would.

European Union exports of steel to the United States in 2017 were worth 5.3 billion euros ($6.53 billion) and of aluminium 1.1 billion euros.

"Trade wars are never won".

He said the European Union will also stand ready to protect Europe's embattled steel market in case of a surge of imports as a result of the United States tariffs. "Trade wars are lost by both sides", Sasse said in a statement Friday.

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