EU Vows To Strike Back At Trump Trade Threat
Sumaira FH Published February 20, 2018 | 06:37 PM
The EU warned on Tuesday it would take "appropriate measures" to defend its interests if the US imposes tough trade sanctions as President Donald Trump delivers on his protectionist policies.
Brussels, (APP - UrduPoint / Pakistan Point News - 20th Feb, 2018 ) :The EU warned on Tuesday it would take "appropriate measures" to defend its interests if the US imposes tough trade sanctions as President Donald Trump delivers on his protectionist policies.
The US Commerce Department on Friday recommended imposing heavy tariffs on China, Russia and European exporters to counter a global glut in steel and aluminium, laying out an array of possible options in a report to Trump.
The move hands Trump his first opportunity to deliver on the "America First" trade promise, but has stoked fears of retaliation and a global trade war. European Commission spokesman Margaritis Schinas said Brussels would be "deeply concerned" by any sanctions hitting EU businesses.
"We would be taking appropriate measures to defend EU industry, and we stand ready to react swiftly and appropriately in case our exports are affected by any restrictive trade measures from the United States," Schinas told a daily briefing.
But Schinas insisted that international trade would always remain "win-win" if partners played by the rules. "We are not in a trade war," he said.
Trump has until mid-April to decide whether he will move forward, with expectations high that any US action is likely to be challenged by exporting nations in the World Trade Organization.
The commission, which handles trade policy for the EU's 28 member states, however refused to comment on reports that officials had already drawn up specific measures to counter Trump. Germany's Frankfurter Allgemeine Zeitung newspaper reported Tuesday that Brussels was mulling tarrifs on Harley-Davidson motorcycle imports as well as bourbon from Tennessee and Kentucky.
Washington's recommended steel and aluminium sanctions address long-standing concerns about mainly Chinese overproduction, but take the extraordinary tack of framing them in terms of national security and defence.
The administration of former President Barack Obama also sought to tackle the subject but emphasised trade talks with China rather than punitive measures. The US proposals could hurt European countries as well as China, which is the world's largest steel producer but provides less than one percent of US imports and sells only 10 percent of its wrought aluminium abroad.
Related Topics
Recent Stories
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
Iranian President visits Allama Iqbal’s mausoleum
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
Today Gold Rate in Pakistan 23 April 2024
Islam enlightened world with its teachings about knowledge: Dr Jamileh
Record London close as oil prices drop on easing Middle East fears
TV tower in Kharkiv struck as Russia captured village
More Stories From World
-
EU lawmakers greenlight new rules to rein in national spending
32 minutes ago -
Hamas to stay in Doha if 'useful' for Gaza war mediation: Qatar
51 minutes ago -
London stock market strikes record as sentiment lifts globally
1 hour ago -
In Brazil, hopes to use AI to save wildlife from roadkill fate
2 hours ago -
Taiwan hit by dozens of strong aftershocks from deadly quake
2 hours ago -
Ambassador Hashmi visits Linyi city in Shandong province
2 hours ago
-
Norway women bring seaweed to culinary heights in Europe
3 hours ago -
Ukrainian agriculture minister suspected in corruption scandal
3 hours ago -
China issues highest-level rainstorm warning after deadly floods
3 hours ago -
London stock market hits record high
3 hours ago -
Five migrants die attempting Channel crossing: French police source
3 hours ago -
Migrant detentions set to begin after parliament passes UK-Rwanda plan
4 hours ago