'A bad day for world trade': EU retaliates to Trump's tariffs

Fears of trade war resurface

Mike Sheen
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President Trump. Photos: iStockphoto/Michael Vadon/Flickr/Creative Commons CC BY-SA 2.0
Image:

President Trump. Photos: iStockphoto/Michael Vadon/Flickr/Creative Commons CC BY-SA 2.0

The European Union (EU) has retaliated to US President Donald Trump extending tariffs on steel and aluminium to the bloc, confirming it is launching a dispute settlement case and adding further taxes to US imports.

Trump's tariffs, which will comprise 25% on steel and 10% on aluminium, were enacted at midnight (1 June) and hit EU exports valued at €6.4bn in 2017, as well as Canada and Mexico, after talks failed. The Big Question Part II: Is President Donald Trump a market menace - or a welcome disruptor? French President Emmanuel Macron is believed to have told Trump the move is "illegal" and that the EU would react "in a firm and proportionate manner". In response, the European Commission has confirmed it would be triggering a dispute settlement case at the World Trade Organisation and will ...

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