EU plans to counter US tariffs

CNC
Added On March 9, 2018

The European Commission has made a proposal to counter possible US tariffs on steel and aluminium.
 
The EU announced that should US measures affect its interest, it is ready to react in line with World Trade Organisation rules. 
 
The proposal was presented by European Commission President Jean-Claude Juncker, Vice-President Jyrki Katainen and Commissioner for Trade Cecilia Malmstrom.
   
Malmstrom said the motivation behind the US measures appears to be an economic safeguard measure in disguise - not a national security measure.
   
SOUNDBITE(English): CECILIA MALMSTROM, EU Commissioner for Trade
"These are measures that would defend our interests in case the US follows through on these announcements. Unlike the proposed US duties, these three tracks of work are in line with our international obligations in the WTO. They would be carried out by the book."
   
An earlier report by the Politico Europe said the EU is ready to roll out countermeasures against US exports worth 3.48 billion US dollars.
   
Malmstrom confirmed that the EU has prepared a list of products including a number of steel products, agricultural products and consumer goods, for imposing reciprocal tariffs if needed.
   
But the commissioner still hoped that as a US security partner, the EU would be excluded from the US tariffs.
 
U.S. President Donald Trump announced on Thursday last week that the United States is set to impose 25 percent of tariff on steel imports and 10 percent for aluminum.