We 'must act': Europe retaliates against Trump's 25% tariffs on steel and aluminum imports [MSNBC.com]
SALZGITTER AG UNSP/ADR (SZGPY)
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Source: MSNBC.com
Workers of German steel manufacturer Salzgitter AG stand in front of a furnace at a plant in Salzgitter, Germany, March 1, 2018.Fabian Bimmer | ReutersThe European Union has reacted swiftly to U.S. PresidentDonald Trumpretaliating with their own punitive counter-measuresThe confirmed the duties — which will affect Canada, Australia, the EU and others — late Tuesday, but said that Trump no longer planned to raise tariffs on the metals from Canada to 50%.The EU responded swiftly, saying it would imposecounter-tariffs on 26 billion eurosEuropean Commission President Ursula von der Leyen on Wednesday told reporters that the EU "must act to protect businesses and consumers.""We deeply regret this measure [by the U.S.]. Tariffs are taxes, they are bad for business and worse for consumers, they are disrupting supply chains, they bring uncertainty for the economy, jobs are at stake, prices are up and nobody needs that, neither side needs that,"she said during a press conference.Trade ties be
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