US President Donald Trump wants to occupy steel and aluminum imports in the US with rates of 25 percent. The EU must also be affected. The European answer is planned to come on April 1, as the European Parliament has now announced.
“If we have not received an agreement until 12 March, we will now negotiate-this will be in the same way from 1 April,” says Bernd Lange, the chairman of the commercial committee of the EU parliament. This means that the SPD politician currently means special rates for American products such as jeans, Bourbon whiskey, motorcycles and peanut butter. With these rates, the EU had responded to Trump in the first term. Even then American special rates were already introduced in steel and aluminum exports of the EU.
Van de Leyen: “Illegal”
“Immediate rates at the expense of the EU will not continue to lead to decisive and proportional countermeasures,” said EU president Ursula von der Leyen. The extent of the measures that Trump has ordered is currently being investigated. In short, however, you are ready for negotiations to find affordable solutions for both parties, said it.
“If the United States does not give us another choice, the European Union will respond to this. However, I hope that we will be saved the wrong path of rates and Tariffs, “said the Chancellor of Germany, Olaf Scholz.
This is how Austria is influenced
Austrian companies are also affected by the American rates, such as the Linz Steel Company Voltalpine and the Upper Austrian aluminum group Amag. Minister of Economy Martin Kocher (ÖVP) said he supports the EU against measures. The American rates would contradict “the spirit of free and honest action”.
In the meantime, Trump is already working on the following rates. Within the next two days he will announce mutual rates that will be adapted to the customs level of the respective trading partner, he said.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
