EU ‘ready to impose countermeasures’ after Trump doubles metal price lists to 50%

The European Union on Saturday criticized President Donald Trump’s transfer to double price lists on metal imports, caution that it “undermines” efforts to succeed in a “negotiated solution” within the ongoing business conflict.

“We strongly regret the announced increase of U.S. tariffs on steel imports from 25% to 50%,” an EU spokesperson mentioned in a observation to NBC News.

“This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic,” the spokesperson endured.

The spokesperson added that the EU is “prepared to impose countermeasures, including in response to the latest U.S. tariff increase.”

Trump on Friday introduced that he used to be doubling price lists on metal imports to 50% from 25%, expanding the power on producers depending on business metals for manufacturing.

The new import tasks are set to cross into impact June 4.

His announcement, made at a rally at U.S. Steel in Pennsylvania, got here after the president signaled previous this month that he would authorized a debatable deal between Nippon Steel and U.S. Steel.

Trump highlighted an “agreement” between Nippon and U.S. Steel all the way through the Friday rally, however mentioned that the deal used to be no longer but ultimate.

The EU, which mentioned that it had paused its countermeasures towards the U.S. on April 14 “to allow time and space” for negotiations, mentioned it’s ready to instate the ones measures “if no mutually acceptable solution is reached.”

“The European Commission is currently finalizing consultations on expanded countermeasures,” the spokesperson mentioned. “If no mutually acceptable solution is reached, both existing and additional EU measures will automatically take effect on 14 July — or earlier, if circumstances require.”