US raises tariffs on steel and aluminium to 50%, EU to continue negotiations

The European Union has expressed its deep regret at the announcement by the United States of America to increase the duty on steel and aluminium from 25 % to 50 %. The European Commission spokesman said the above words. This decision adds to the economic uncertainty on both sides of the Atlantic. The spokesman said that negotiations are continuing - both sides have agreed to speed up the negotiation process, which will take place this week.

In a statement, the European Commission expressed regret at the announcement by the United States to increase tariffs on steel and aluminium imports and said that the European Union was ready to take countermeasures.

The statement said the US government's decision adds to uncertainty in the global economy and the tariff increase undermines ongoing efforts to negotiate the issue. The European Commission is in final consultations on extending countermeasures. In the absence of a mutually acceptable solution, the current and additional measures will automatically enter into force on 14 July or earlier as appropriate.

CMG