Statement by the European Commission on potential imposition of US tariffs on EU steel and aluminium
“At this stage, we have not received any official notification regarding the imposition of additional tariffs on EU goods. We will not respond to broad announcements without details or written clarification. The EU sees no justification for the imposition of tariffs on its exports. We will react to protect the interests of European businesses, workers and consumers from unjustified measures.
In general: The imposition of tariffs would be unlawful and economically counterproductive, especially given the deeply integrated production chains the EU and US established through Transatlantic trade and investment. Tariffs are essentially taxes. By imposing tariffs, the US would be taxing its own citizens, raising costs for business, and fuelling inflation. Moreover, tariffs heighten economic uncertainty and disrupt the efficiency and integration of global markets.”
Source – EU Commission