EU ‘Sterk’ regrets us to double steel rates

The EU has said that Donald Trump’s “strong” surprise plan regrets American rates on steel and aluminum in a movement that runs the risk of throwing bilateral commercial conversations in chaos.

On Friday, the US president told a meeting in the steel city of Pittsburgh that rates would rise from 25% to 50%, and claimed that this would stimulate local industry and national supplies.

The European Commission told the BBC on Saturday that Trump’s last step on rates “undermines continuous efforts” to achieve a deal, warning of “countermeasures”.

This also raises questions about the Zero rate of the UK with the US on steel and aluminum, which, although agreed, has not yet been signed.

A spokesperson for the British government said: “We are working on the US about the implications of the latest rate announcement and to provide clarity for industry.”

The UK – which the EU left after the Brexit referendum of 2016 – was the first country to have a Trade Deal earlier this month with the US.

In a statement sent to the BBC on Saturday, the European Commission, the EU Executive Arm, said: “We have a great regret of the announced increase in the American rates for steel imports from 25% to 50%.

“This decision adds further uncertainty to the global economy and increases the costs for consumers and companies on both sides of the Atlantic Ocean.

“The rate increase also undermines continuous efforts to achieve a negotiated solution.

“In good faith, the EU paused its countermeasures on April 14 to create space for continuous negotiations,” said the statement, warning the block “is willing to impose countermeasures”.

On Friday, Trump announced that the rate percentage for steel and aluminum imports would double up to 50%, from Wednesday.

He said that the move would help to stimulate the local steel industry and the national offer, while it reduces dependence on China.

Trump also said that $ 14 billion (£ 10 billion) would be invested in the steel production of the area by a partnership between US Steel and the Japanese Nippon steel, although he later told reporters that he had to see or approve the final deal.

The announcement was the last turn in Trump’s roller coaster approach to rates since the re -introduction of the office in January.

“There will be no fired and no outsourcing, and every American steel worker will soon receive a well -deserved $ 5,000 bonus,” Trump told the crowd, filled with steel workers, to raw applause.

American steel production has fallen in recent years and China, India and Japan have continued as the top producers in the world. About a quarter of all steel used in the US is imported.

The announcement comes across in the midst of a lawsuit The legality of some of the global rates of Trump, who has permitted a court of appeal to continue after the Court of International Trade ordered the administration to stop taxes.

His rates on steel and aluminum were untouched by the court case.

Last week, Trump had agreed to extend a deadline to negotiate rates with the EU for more than a month with the EU.

In April he announced a rate of 20% or import tax – on most EU goods, but later reduced this to 10% to allow time for negotiations. Trump expressed frustration about the pace of conversations and threatened to increase the rate percentage to an even higher level of 50% as soon as 1 June.

But last week he wrote on social media that he pushed his deadline back until July 9, after a “very nice” call with Ursula von der Leyen, the chief of the European Commission.