The European Union issued a strong rebuke on Saturday regarding President Donald Trump’s announcement to double tariffs on steel imports, cautioning that this action “undermines” the potential for a “negotiated solution” amid the ongoing trade dispute.
“We strongly regret the announced increase of U.S. tariffs on steel imports from 25% to 50%,” stated an EU representative in a communication to NBC News.
The representative noted that the tariff hike introduces additional uncertainty into the global economy and raises costs for consumers and businesses on both sides of the Atlantic.
Furthermore, the EU indicated its readiness to implement countermeasures in reaction to the recent increase in U.S. tariffs.
On Friday, Trump revealed that the tariffs on steel imports would rise to 50%, exerting added pressure on manufacturers reliant on industrial metals.
The updated tariffs are scheduled to take effect on June 4.
This announcement was made during a rally at U.S. Steel in Pennsylvania, shortly after Trump had mentioned his approval of a contentious agreement between Nippon Steel and U.S. Steel earlier in the month.
During the rally, Trump referenced the “agreement” between Nippon and U.S. Steel, although he clarified that the deal had not yet been finalized.
The EU had previously stated that it temporarily paused its countermeasures against the U.S. on April 14 to facilitate negotiations, but it is now gearing up to reinstate those measures if a satisfactory compromise is not achieved.
“The European Commission is currently concluding consultations on expanded countermeasures,” the spokesperson emphasized. “Should no mutually acceptable solution be reached, both existing and additional EU measures will automatically come into effect on July 14—or sooner if required by circumstances.”
