June 7, 2018
The European Union (EU) will retaliate against moves by President Donald J. Trump’s to protect the domestic steel industry, introducing €2.8 billion (£2.5bn) of levies on U.S. key exports, designed to do maximum damage to iconic American brands.
At the end of last month, President Trump introduced levies on foreign steel and aluminium products, designed to save America’s rapidly declining smelting capability.
The industry has been hit by state-subsidised, artificially cheap Chinese products, and retaining it is critical for national security reasons and the defence industry.
The EU’s unelected European Commission promised a swift escalation last month, and after endorsing their response this week, commissioner Maros Sefcovic addressed a news conference Wednesday.
This article was posted: Thursday, June 7, 2018 at 6:15 am