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US-EU: VdL Pledges 'Firm & Proportionate Countermeasures" To Trump Metal Tariffs

US-EU
USHomepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America

Senior EU officials have been responding to US President Donald Trump's imposition of 25% tariffs on steel and aluminium imports into the US. In a short statement, Commission President Ursula von der Leyen says she "deeply regrets" Trump's decision. Says "Unjustified tariffs on the EU will not go unanswered - they will trigger firm and proportionate countermeasures."

  • Commissioner for Trade and Economic Security, Interinstitutional Relations, and Transparency Maroš Šefčovič has been speaking to the European Parliament Plenary session says "Trade, like any basis, thrives in predictibility and fair rules". Šefčovič: "EU prepared to face up to any challenges in this new era...We are looking into the possibility of stronger trade ties with Gulf countries."
  • Šefčovič: "Latest US tariff measures are a lose-lose scenario...We remain committed to finding mutually beneficial solutions with the US on the tariff issue if possible."
  • The EU has the option of utilising its 'Anti-Coercion Instrument' (ACI). This 'bazooka' includes options of response such as "the imposition of tariffs, restrictions on trade in services and trade-related aspects of intellectual property rights, and restrictions on access to foreign direct investment and public procurement."
  • To date, tit-for-tat measures have focuses on trade in goods, but widening this to include trade in services could prove a significant escalation, and one that EU economies highly reliant on cross-border services may prove reluctant to utilise. 

 

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Senior EU officials have been responding to US President Donald Trump's imposition of 25% tariffs on steel and aluminium imports into the US. In a short statement, Commission President Ursula von der Leyen says she "deeply regrets" Trump's decision. Says "Unjustified tariffs on the EU will not go unanswered - they will trigger firm and proportionate countermeasures."

  • Commissioner for Trade and Economic Security, Interinstitutional Relations, and Transparency Maroš Šefčovič has been speaking to the European Parliament Plenary session says "Trade, like any basis, thrives in predictibility and fair rules". Šefčovič: "EU prepared to face up to any challenges in this new era...We are looking into the possibility of stronger trade ties with Gulf countries."
  • Šefčovič: "Latest US tariff measures are a lose-lose scenario...We remain committed to finding mutually beneficial solutions with the US on the tariff issue if possible."
  • The EU has the option of utilising its 'Anti-Coercion Instrument' (ACI). This 'bazooka' includes options of response such as "the imposition of tariffs, restrictions on trade in services and trade-related aspects of intellectual property rights, and restrictions on access to foreign direct investment and public procurement."
  • To date, tit-for-tat measures have focuses on trade in goods, but widening this to include trade in services could prove a significant escalation, and one that EU economies highly reliant on cross-border services may prove reluctant to utilise.