The European Union, Britain, Canada and Mexico have promised to swiftly retaliate US President Donald Trump’s decision to slap 25-percent and 10-percent import taxes on their steel and aluminum respectively.
Wilbur Ross, the US secretary of commerce, sent shudders through global financial markets on Thursday by announcing that the new tariffs would go into effect from midnight.
EU to target $7.5bn in US goods in tit-for-tat
Jean-Claude Juncker, head of the European Commission, said the bloc was prepared for immediate punitive measures, including tit-for-tat tariffs that would affect some $7.5 billion worth of US exports.
“This is protectionism, pure and simple,” he said in a statement.
Macron’s WWII analogy
French President Emmanuel Macron called the decision “illegal” and a “mistake,” and said he would discuss it with Trump immediately.
In a rather ominous statement, he likened the measure to the kind of protectionist policies…