Higher US duties on steel and aluminum enter into force

manager24.pl 3 months ago

Double the import duties on steel and aluminium announced by the US president Donald Trump it's in effect. From the north, the 50 percent rate applies to imports to USA That was 25 percent before. Trump says he wants to correct trade imbalances and strengthen national industry. The exception is imports of steel and aluminium from United Kingdom , for which the rate is inactive 25 percent, according to the White House. The background for this is the trade pact that the U.S. made with the British. Trump sealed this step with an executive regulation he signed on Tuesday. The increase in duties is likely to impede imports and lead to higher prices. Economists anticipate noticeable effects for consumers – for example erstwhile buying cars, household appliances or canned goods.

USA an crucial outlet for the European steel industry

Since 2024, the USA has been the world's largest steel importer after the EU. According to the U.S. government, the most crucial countries of origin are Canada , Brazil and Mexico Germany are besides among the 10 largest exporters to the USA . According to the German manufacture association Wirtschaftsvereinigung Stahl USA are the most crucial outlets for the European steel industry. USA imports aluminium mainly from Canada, United arabian Emirates, China and South Korea. Trump has already imposed or threatened to introduce many duties, trying to force what he considers to be more favourable trade agreements. any have been legally challenged – but fresh duties on steel and aluminium are not affected.

It is inactive unclear how the EU will react. The European Commission powerfully criticised Trump's announcement on the weekend and threatened to respond before the summer. This movement is seen as an insult, peculiarly given the late intensified negotiations to resolve the commercial dispute. However, according to the latest information from the European Commission, the talks continued at the beginning of the week and were described as "very constructive". Another gathering of the EU Trade Commissioner Maroša Šefčoviča (58) with the US Trade typical Jamieson Greer is scheduled for present in Paris.

If Trump adheres to double tariffs, the EU can impose a counter-measure in a short time. associate States have already paved the way for this in April. Additional duties may apply to American products specified as jeans, motorcycles, beef and citrus fruits. Measures on industrial and agricultural goods specified as cars, sweet potatoes and whisky are besides being considered.

Intensified negotiations between the EU and the US have continued since Trump's first circular of tariff notices. The EU originally decided on remedies in mid-April, but suspended them after Washington granted a 90-day postponement. This window of chance was to be utilized for negotiations. The EU has repeatedly stressed that it will take decisive action against US customs tariffs if negotiations fail.

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