European Union warns U.S. against tariff exemptions for individual states

European Union warns U.S. against tariff exemptions for individual states

European Union warns U.S. against tariff exemptions for individual states

Surrounded by applauding steel and aluminum workers, U.S. President Donald Trump holds up the "Section 232 Proclamations" on steel imports that he signed in the White House.

EU Trade Commissioner Cecilia Malmstroem said Friday in Brussels, "We hope that we can get confirmation that the EU is excluded from this".

Trump imposed the tariffs - 25 percent on steel and 10 percent on aluminium - despite repeated warnings from the European Union and other allies that this could trigger a full-on trade war.

"We will have to protect our industry with rebalancing measures, safeguards".

She predicted a "long day" of talks on Saturday, while European Commission Vice President Jyrki Katainen sought to play down expectations, saying it was "a meeting, not THE meeting". "Looking forward to meeting USTR Lighthizer in Brussels on Sat to discuss".

EU Commissioner Cecilia Malmstrom, who coordinates policy for the world's biggest trading bloc, said she shared USA concerns about overcapacity in the steel sector but did not believe in tariffs as a way to solve the problem.

Contrary to what President Trump says, trade wars can have a detrimental effect on the countries involved.

The loss of exports to the US, combined with an expected massive import surge in the European Union, could cost tens of thousands of jobs in the European Union steel industry and related sectors.


European industry associations called on Malmstrom to respond if the EU was subjected to the tariffs, saying they would hit the steel and aluminium sectors hard.

"The loss of exports to the US, combined with an expected massive import surge in the European Union, could cost tens of thousands of jobs in the European Union steel industry and related sectors", said Axel Eggert, head of steel association. At the same time, The Australian Financial Review reports, Aussie steel and aluminum exports will also be exempted, citing confidence in Canberra that a negotiating process will be a mere "formality". It was the most explicit threat yet from the country in the escalating trade row.

Beijing vowed to "firmly defend its legitimate rights and interests".

Trade tensions between Washington and Beijing have risen since Trump took office previous year.

The dispute has fueled concerns that soybeans, the United States' most valuable export to China, might be caught up in the row after Beijing launched an inquiry into imports of US sorghum, a grain used in animal feed and liquor.

Some Democrats praised the move.

South Korea, the third-largest steel exporter to the U.S., is also considering joining an action at the WTO.

While carrying a message to Washington to push forward a diplomatic breakthrough over North Korea, Chung Eui-yong, South Korea's national security office chief asked USA officials to support Seoul's request for a waiver, a presidential spokesman said.

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