Tuesday 29 September, 2020

European Commission will react 'firmly' in days as Trump orders tariff

President of the EU Commission, Jean-Claude Juncker and US President Donald Trump

President of the EU Commission, Jean-Claude Juncker and US President Donald Trump

The European Union said on Friday it will "react firmly and commensurately to defend our interests" following US President Donald Trump's decision to slap tariffs on imported steel and aluminum.

Jean-Claude Juncker, President of the European Commission, issued a statement in which he denounced the Trump tariffs as "a blatant intervention to protect US domestic industry".

"Protectionism cannot be the answer to our common problem in the steel sector. Instead of providing the solution, this move can only aggravate matters", said the statement read out at a news briefing Deputy Chief Spokesperson Alexander Winterstein.

President Trump's move also spooked investors and raised fears that other nations would punch back with their own sanctions and threatened to raise prices for US consumers and companies that use steel and aluminum.

 

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