Here’s what the latest reports say
According to latest media reports, the US is poised to hit EU with steel and aluminum tariffs as early as Thursday. President Donald Trump plans to impose the tariffs on Mexico, Canada, according to the Washington Post.
Meanwhile, Commerce Secretary Wilbur Ross has told French media that it would be announced either before markets opened or after they closed. While not confirming this development directly, he said: “It’s up to the European Union to decide if it wants to take retaliatory measures. The next question would be: how will the (U.S.) President (Donald Trump) react? You saw his reaction when China decided to retaliate.
“If there is an escalation it will be because the EU would have decided to retaliate,” he said, adding that Washington did not want a trade war with the EU.
Trump had already imposed a 25 per cent tariff on steel imports and a 10 per cent tariff on aluminum in March this year, but granted temporary exemptions to the EU, Canada, Mexico, Brazil, Australia and Argentina.
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