TRADE WAR DEEPENS: EU launches WTO case against Trump in furious reaction to steel tariffs

Thursday, May 31, 2018
By Paul Martin

THE EU has vowed to react furiously after the US slapped it with massive tariffs on steel and aluminium in a move that cost could firms in the bloc billions of pounds.

By PAUL WITHERS
Express.co.uk
Thu, May 31, 2018

US President Donald Trump promised to impose tariffs, claiming trade across the Atlantic was a one-way street.

The EU had demanded a permanent exemption from the tariffs following a temporary one being granted in April, but the plea has been rejected by US Commerce Secretary Wilbur Ross.

French Finance Minister Bruno Le Maire had earlier met with Mr Ross in a last ditch attempt to prevent the tariffs being imposed, but they failed to come to an agreement.

Among the concessions the Trump administration is seeking is an agreement on a quota that would limit European steel and aluminium exports to the US while also wanting the 10 percent auto tariff to be lowered, for which it would be ready to grant an exemption to the EU from the steel tariff.

But EU leaders have immediately vowed to retaliate against the US, with the bloc ready to launch a case at the World Trade Organisation (WTO) where it will trigger a “dispute settlement” as it believes the US are breaking agreed international trade rules.

Trade Commissioner Cecilia Maelstrom said: “The US has sought to use the threat of trade restrictions as leverage to obtain concessions from the EU.

“This is not the way we do business, and certainly not between longstanding partners, friends and allies.

“Now that we have clarity, the EU’s response will be proportionate and in accordance with WTO rules.

“We will now trigger a dispute settlement case at the WTO, since these US. measures clearly go against agreed international rules.

“We will also impose rebalancing measures and take any necessary steps to protect the EU market from trade diversion caused by these US restrictions.”

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