European Union hits out at trade 'bullies' as Donald Trump row deepens

European Union hits out at trade 'bullies' as Donald Trump row deepens

European Union hits out at trade 'bullies' as Donald Trump row deepens

But taken as a trading bloc, Europe is the biggest exporter of steel to the United States, accounting for almost 5 million tons out of 35 million.

The U.S. will impose a 25 per cent tariff on imported steel and 10 per cent tariff on aluminum. Over the weekend, he said in a tweet that the European Union could potentially be exempt from the steel and aluminum duties "if they drop their horrific barriers & tariffs on US products going in ..."

Commerce Secretary Wilbur Ross will speak with representatives of the European Union about eliminating tariffs on USA imports, President Donald Trump said in a tweet on Monday morning.

Article I of the U.S. Constitution says only Congress has the power to set tariffs.

The article reported that foreign leaders said the tariffs will put their citizens out of work and suggested a trade war will ensue.

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'If they drop their horrific barriers & tariffs on USA products going in, we will likewise drop ours, ' he pledged in a tweet.

The EU said those efforts will continue this week, though no details for further talks have yet been announced.

The association said in the letter that it applauds the administration's efforts to rebalance trade and protect the USA steel industry and workers, but it is concerned that global import tariffs on steel and aluminum would have a devastating effect on steel-consuming manufacturers downstream, including the auto care industry. It was not clear when or where the meeting would take place. Canada and Mexico account for a quarter of the steel imported by the U.S. It will only bring disaster to China, the United States and the rest of the world.

And Warner questioned whether tariffs will resurrect the US steel industry the way Trump is boasting they will. According to the International Trade Administration, India, which is the 14th largest steel exporter in the world, exported just five per cent of its exports of 228 thousand metric tons in FY 2017, with the bulk of the exports being to Belgium, Thailand and markets like Vietnam.

European Competition Commissioner Margrethe Vestager told the German newspaper Bild am Sonntag that EC nations 'have been building a global trading system for decades'. "The level of integration of our economies means that our workers on both sides of the border benefit when we work together".

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