Earlier this week, the European Union will have a 25% margin against the European Union of about 2.8 billion euros in response to the import duties on European steel and aluminum exports, said Cecilia Malmström, EU Trade Commissioner on Wednesday.
Malmström said in SVT’s Swedish television interview he expects the trade dispute between the United States and the European Union will continue to intensify, according to which Washington may raise tariffs on European car imports already in the autumn.
He stressed that on the part of the United States this would be a very damaging step that would endanger hundreds of thousands of jobs worldwide.
In addition, the Swedish Commissioner has defended EU countermeasures in response to new US defense duties, emphasizing that some opinions do not depend on whether President Donald Trump will charge European car imports.
The European Commission has previously stated that only the first round of response measures will be put in place in July. But Malmström has now reported that he can do this next week.
The EU plans to introduce a 25 percent import duty against US $ 2.8 billion, with an already approved list including peanut butter, blueberries and orange juice, but there are certain agricultural products, a large number of iron and steel products, garments , bed linen, tobacco products, motorcycles, yachts and bourbon whiskey.
The EU exported steel and aluminum in the United States last year to EUR 6.4 billion. According to information in Brussels, therefore, in the future, an additional import of EUR 3.6 billion will be imposed on US products. Three years from now, or after the WTO dispute settlement process is completed, this can take place.
The United States has recently announced that it will not grant any further exemption from the EU’s anti-dumping duties of 25 and 10 percent for imports of steel and aluminum.
The European Commission has subsequently turned to the WTO for US defense laws and has already started investigating whether measures are needed to protect the EU market from large quantities of redirected steel and aluminum following the US move.