The European Union has said it “strongly regrets” a fresh move by US president Donald Trump to double import tariffs on steel and aluminium to 50 percent, warning the decision risks derailing efforts to resolve an escalating trade dispute with the United States. The new tariffs took effect on Wednesday.
Trump signed the order on Tuesday evening, raising the import taxes from the 25 percent rate first introduced in March. The metals sector was the first to face these targeted tariffs, part of Trump’s stated aim to boost domestic investment.
The European Commission said the bloc was ready to respond if needed. A €21 billion package of counter-tariffs, approved earlier this year, remains on standby.
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Trade talks in Paris
The move has added pressure to a ministerial meeting underway in Paris, hosted by the Organisation for Economic Cooperation and Development (OECD). EU trade commissioner Maros Sefcovic is due to meet US trade representative Jamieson Greer on Thursday.
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EU officials hope the bloc can still secure an exemption from the higher tariffs. Brussels is not expected to retaliate immediately, to avoid disrupting other ongoing trade discussions with Washington.
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