United_States Tariffs Trigger European_Union Retaliation
Analysis based on 8 articles · First reported Feb 11, 2025 · Last updated Feb 11, 2025
The imposition of tariffs by the United States on steel and aluminum is expected to lead to retaliatory measures from the European Union, potentially escalating into a trade war. This will negatively impact global trade volumes and increase costs for 'downstream' manufacturers, affecting both the United States and European Union economies.
The United States, under President Donald Trump, has imposed a 25% tariff on foreign steel and aluminum, aiming to provide relief to local producers. In response, European Union chief Ursula von der Leyen has vowed that these tariffs 'will not go unanswered' and will trigger 'firm and proportionate countermeasures' from the 27-nation bloc. Germany's Chancellor Olaf Scholz supported the European Union's united stance, warning that 'trade wars always cost both sides prosperity.' European Union Commission vice-president Maroš Šefčovič described the tariffs as 'economically counterproductive' given the deeply integrated transatlantic trade ties. The European Union previously imposed counter-tariffs on U.S.-made goods in 2018 after similar actions by Donald Trump, indicating a potential repeat of trade tensions.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard