TRUMP WARNS EU ON RETALIATORY TARIFFS – The European Commission said it would impose counter-tariffs on 26 billion euros worth of U.S. goods
U.S. President Donald Trump vowed to respond to the European Union’s threat to impose counter-tariffs on 26 billion euros worth of U.S. goods from next month after Trump implemented blanket tariffs on steel and aluminum imports.
At the start of a meeting with Irish Prime Minister Micheál Martin in the Oval Office, Trump said Ireland, a member of the European Union, was among countries taking advantage of the United States.
Trump said Ireland had used its tax policies to lure away pharmaceutical and other companies from the United States, but U.S. reciprocal tariffs would help rebuild U.S. manufacturing.
Trump’s increased tariffs on all U.S. steel and aluminum imports took effect on Wednesday, ratcheting up a global trade war and drawing swift retaliation from Canada and Europe.
Trump’s action to bulk up protections for American steel and aluminum producers restores effective tariffs of 25% on all imports of the metals and extends the duties to hundreds of downstream products.
The European Commission said it would impose counter-tariffs on up to 26 billion euros worth of U.S. goods next month.
