We are finishing the first package of remedies in consequence to US steel duties, we will prepare another to defend our interests," stated European Commission president Ursula von der Leyen on Thursday. However, as she stressed, it is not besides late to resolve the problems through negotiations.
I know that many of you feel disappointed by our oldest ally.
said von der Leyen in consequence to US president Donald Trump's announcement of tariffs on goods from around the world.
On Wednesday, Trump signed a regulation imposing "reciprocal duties" of at least 10% on goods imported from abroad, with EU goods of 20%. The US-pronounced rates are expected to account for half of the combined customs duties and non-customs trade barriers applied by another countries. For China, the tariffs will be 34% (this rate will be added to the previously announced 20% duties; it will be 54 percent), Japan – 24 percent, India – 26 percent, South Korea. 25 percent.
Although many planet leaders responded to Trump almost immediately after he introduced the duties, the EC President, who is conducting the EU's trade policy, waited for more than 7 hours to react. On Thursday morning, it did not provide, as expected, the value of the US goods to be subject to EU retaliatory duties in consequence to a 20-percent rate. She recalled that the EU was finishing working on the duties announced in consequence to the increase in steel and aluminium rates. They are to enter into force on 13 April. She besides announced that the EC would impose fresh duties.
Following the introduction of March 12 by the United States 25-percent. The duties on steel and aluminium von der Leyen announced a retaliation work of EUR 26 billion. She announced the suspension of duties from Trump's first presidency of EUR 8 billion and announced fresh EUR 18 billion for steel and aluminium products, textiles, leather products, household appliances, household tools, plastics, wooden products, poultry, beef, any seafood, nuts, eggs, dairy products, sugar and vegetables.
I agree with president Trump that others are unfairly utilizing the current rules and I am willing to support all efforts to adapt the global trading strategy to the realities of the planet economy.
“ von der Leyen said.
However, as she pointed out, reaching first for the work will not fix it.
As von der Leyen stressed, their consequences will be "dramatic" for the full world. In her view, duties are a "serious blow to the planet economy" due to the fact that they will bring inflation and rise the cost of surviving for millions of consumers. They will be affected by all companies from day 1 due to disruption and burdensome bureaucracy.
The cost of doing business with the United States will increase dramatically
She warned.
As the leader pointed out, “there is no order in this disorder”, there is no “clear way in the complexity and chaos that arose” due to the imposition of duties on all trading partners.
We request to prepare for the impact that this will inevitably have. Europe has everything it needs to last the storm. We're in this together.
“ said the EC President.
Unity is our strength
She said.
She added that it was not besides late to resolve the problems through negotiations and that the Commissioner for Trade, Mr Maroszo Chief, was ready for the dialogue.
We'll be working on reducing barriers, not lifting them.
“ She pointed out.
ml/PAP
