US EditionEU Poised to Counter U.S. Steel Tariff Hike with New Measures
- On June 4, 2025, the United States, led by President Trump who made the announcement during a rally in Pennsylvania, raised the import duties on steel and aluminum products from 25% up to 50%.
- This hike follows conflicting court rulings and ongoing trade disputes, with the EU and Canada strongly opposing the tariff increase.
- Trump promoted a $14.9 billion deal with Japan's Nippon Steel involving partial investment in U.S. Steel, asserting the company will remain American.
- The EU condemned the tariff hike, saying it "adds further uncertainty to the global economy" and threatens transatlantic negotiations, while preparing countermeasures.
- If no agreement occurs, the EU plans to enforce existing and additional measures by July 14, heightening trade tensions and increasing costs on both sides.
59 Articles
59 Articles
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Brussels. The European Commission said yesterday that this week it will fight strongly for the United States to reduce or eliminate tariffs, despite Donald Trump’s announcement that it would double import duties on steel and aluminium, and that they would reach up to 50 percent.
Donald Trump's tariffs have caused widespread chaos – but also a "golden opportunity" for the euro, writes the Telegraph. - This is a great opportunity for Europe, says EU chief Christine Lagarde. Her hope is that the euro will take over from the dollar as the global reserve currency – but she is being pushed back by experts.
The European Commission said today that it will make strong arguments in negotiations with the United States this week for the reduction or elimination of tariffs, after US President Donald Trump said he would double import tariffs on steel and aluminum to 50 percent.
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