Advertisement

European Union Vows Retaliation Against US Tariffs

Europe is threatening to impose new tariffs on U.S. products in response to U.S. tariffs on steel and aluminum. Europe is threatening to impose new tariffs on U.S. products in response to U.S. tariffs on steel and aluminum. |  Photo: WDIO-TV

Compiled from Associated Press reports
Created: March 02, 2018 11:21 AM

WASHINGTON (AP) - The president of the European Union's executive body says the bloc will retaliate against planned U.S. tariffs on foreign steel and aluminum by taking aim at American exports such as blue jeans.

Advertisement – Content Continues Below

Jean-Claude Juncker says the 28-nation bloc will respond to U.S. import taxes by treating "American products the same way," while abiding by World Trade Organization rules.

Juncker told German media Friday that "Europeans will take WTO-conform measures: Harley Davidson, Bourbon, blue jeans."

He dismissed President Donald Trump's claim the U.S. can slap tariffs on steel and aluminum for national security reasons.

Juncker said that "none of this is reasonable, but reason is a sentiment that's very unevenly distributed in the world."

Asked if a trade war is brewing, he said: "I can't see how this isn't part of war-like behavior."

Meanwhile, the head of the WTO says his agency is "clearly concerned" about the tariffs and is warning of the potential for escalation. Roberto Azevedo says a "trade war is in no one's interests."

Azevedo warned: "The potential for escalation is real, as we have seen from the initial responses of others."

Trump defended is action in a tweet Friday, writing: "When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win."

He argues that the U.S. is "down $100 billion with a certain country and they get cute, don't trade anymore-we win big. It's easy!"

On Thursday, Trump said firm action was crucial to protect U.S. industry from unfair competition and to bolster national security. However, his announcement came only after an intense internal White House debate. It brought harsh criticism from some Republicans and roiled financial markets with concerns.

White House spokeswoman Sarah Huckabee Sanders says Trump is not concerned about the stock market decline.


Credits

Compiled from Associated Press reports

Copyright 2018 The Associated Press. All rights reserved.

Advertisement
Advertisement
Relay Media Amp

American Spirit Vessel Freed After Running Aground in Duluth Harbor

Storms Wash Out Roads in Upper Peninsula

Traffic Restrictions for Central Entrance, Mesaba Avenue Begin Monday

Mountain Iron Family Celebrates New Home

Bayfield County Advises No Travel Due To Flooding

Flooding a Concern Across Northern Wisconsin; Roads Closed

Advertisement