US trade tariffs on imported steel and aluminium become effective

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Publication Date 20/06/2018
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Summary:

Trade tariffs decided by United States President Donald Trump on steel and aluminium imported from the European Union (EU) and other countries came into effect on 1 June 2018, after the failure of negotiations on national security concerns relating to those imports.

The European Union later announced plans to impose counter-measures and levy duties, followed by a notification to the World Trade Organisation (WTO). On 20 June, the European Commission adopted the regulation putting in place the EU's rebalancing measures in response to the US tariffs on steel and aluminium.

Further information:

+ US tariffs: EU response and fears of a trade war

The decision to import a 25% tariff on steel imports and a 10% tariff on aluminium was first announced in March 2018 by President Trump, but temporary exemptions were later granted to the affected trading partners. This was reportedly to allow negotiations on a deal to avoid those taxes. That exemption was extended a bit further on 30 April.

The tariffs, which have prompted several challenges at the WTO, are aimed at allowing the U.S. steel and aluminium industries to increase their capacity utilization rates above 80 percent for the first time in years.

Related Link(s)
Politico, 31.05.18: Trump hits US allies with steel, aluminum tariffs https://www.politico.eu/article/donald-trump-hits-us-allies-with-steel-aluminum-tariffs/
EurActiv, 29.05.18: EU considers tariffs if Trump imposes quotas https://www.euractiv.com/section/economy-jobs/news/eu-considers-tariffs-if-trump-imposes-quotas/
Politico, 30.05.18: Malmström: US likely to impose tariffs or quotas from Friday https://www.politico.eu/article/malmstrom-us-likely-to-impose-tariffs-or-quotas-from-friday/
Deutsche Welle, 30.05.18: Crunch time for EU-US talks on steel and aluminum tariffs http://www.dw.com/en/crunch-time-for-eu-us-talks-on-steel-and-aluminum-tariffs/a-44008925
The Guardian, 31.05.18: US hits allies with steel tariffs to spark trade war with EU, Canada and Mexico https://www.theguardian.com/business/2018/may/31/us-fires-opening-salvo-in-trade-war-with-eu-canada-and-mexico
Politico, 31.05.18: EU announces retaliation against Trump tariffs https://www.politico.eu/article/eu-announces-retaliation-against-trump-tariffs/
CNN, 31.05.18: Trump is starting a global trade war http://money.cnn.com/2018/05/31/investing/us-steel-aluminum-tariffs-response/index.html
Sputnik, 31.05.18: EU Vows to Respond to US 'Unjustified' Metal Tariffs, Launch WTO Dispute https://sputniknews.com/business/201805311064978961-steel-aluminum-tariffs-eu-canada-mexico/
Reuters, 30.05.18: U.S. levies steel, aluminium tariffs on allies, risks trade war https://uk.reuters.com/article/uk-usa-trade-metals-europe/u-s-to-impose-tariffs-on-eu-steel-aluminium-sources-idUKKCN1IV2TR
BBC News, 31.05.18: EU has 'gun held to head' on steel tariffs https://www.bbc.co.uk/news/business-44306941
EurActiv, 01.06.18: Macron tells Trump US tariffs are ‘illegal’, says EU will respond firmly https://www.euractiv.com/section/economy-jobs/news/macron-tells-trump-us-tariffs-are-illegal-says-eu-will-respond-firmly/
EurActiv, 31.05.18: Trump starts trade war with allies, Europe to respond ‘within hours’ https://www.euractiv.com/section/economy-jobs/news/trump-starts-trade-war-with-allies-europe-to-respond-within-hours/
European Commission: Press Release, 31.05.18: European Commission reacts to the US restrictions on steel and aluminium affecting the EU http://europa.eu/rapid/press-release_IP-18-4006_en.htm
Spiegel Online International, 06.06.18: A Vicious Cycle. Berlin Worried about Losing Trump's Trade War http://www.spiegel.de/international/europe/a-vicious-cycle-trump-declares-trade-war-on-europe-a-1211449.html
LSE European Institute: EuroppBlog, 12.06.18: Colliding worlds: Donald Trump and the European Union http://blogs.lse.ac.uk/europpblog/2018/06/12/colliding-worlds-donald-trump-and-the-european-union/
European Parliament: US Tariffs on Steel and Aluminium: Statement of Trade Committee Chair http://www.europarl.europa.eu/news/en/press-room/20180531IPR04720/
European Parliament: Statement by President Tajani on US steel and aluminium duties http://www.europarl.europa.eu/news/en/press-room/20180531IPR04722/
European Commission: Press Release, 20.06.18: EU adopts rebalancing measures in reaction to US steel and aluminium tariffs http://europa.eu/rapid/press-release_IP-18-4220_en.htm
BBC News, 22.06.18: EU tariffs on US goods come into force https://www.bbc.co.uk/news/business-44567636
The Guardian, 22.06.18: Trump threatens car tariffs after EU sets up £2.5bn of levies on US https://www.theguardian.com/business/2018/jun/22/bourbon-levis-prices-rise-eu-enforces-tariffs-us

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