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US will impose steel and aluminum tariffs on EU

Barring a last-minute agreement, the U.S. will announce as soon as tomorrow stiff tariffs on steel and aluminum from the E.U.

Both sides had been negotiating furiously in recent weeks, and many observers believed that Trump would, in the end, give the Europeans a break.

It doesn’t look as though this will be the case.

Associated Press:

The tariffs are likely to go into effect on the EU with an announcement before Friday’s deadline, according to two people familiar with the discussions.  The administration’s plans could change if the two sides are able to reach a last-minute agreement, said the people, who spoke only on condition of anonymity to discuss internal deliberations.

Ross told Le Figaro newspaper that the announcement would come Thursday, likely after markets close.

Trump announced in March that the United States would slap a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum, citing national security interests.  But he granted an exemption to the EU and other U.S. allies; that reprieve expires Friday. …

If the U.S. moves forward with its tariffs, the EU has threatened to impose retaliatory tariffs on U.S. orange juice, peanut butter and other goods in return.


See the full story here.

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