Published: Sun, June 03, 2018
Worldwide | By Sean Reid

European Union joins global battle against Trump tariffs, Europe News & Top Stories

European Union joins global battle against Trump tariffs, Europe News & Top Stories

"The problem is that by taking that kind of unilateral action the USA is undermining the principle of multilateralism in worldwide trade, so it becomes more hard to deal with other concerns ― like trade and market access practices in China", Dombrovskis said in an interview.

May also noted that the European Union and United Kingdom "should be permanently exempted from tariffs" and Britain would work with the bloc to protect and safeguard workers and industries. The official said he believes there will not be a long-term impact on relations with affected countries and they "will get over this in due course".

The two sides will discuss the matter and try to reach a deal.

Nevertheless, "Trump's contempt for worldwide rules can deal a significant blow to business confidence especially in trade-oriented nations", Schmieding said.

The US has also gone to the WTO and launched a case over what it says is intellectual property theft, but the European Union said that although its case is similar, it identifies further potential violations of WTO rules.

However, the Canadian industry has been less damaged than had been anticipated as duties imposed by the USA government have been passed on to US consumers in the form of higher prices.

French President Emmanuel Macron said in a statement Friday that he told Trump in a phone call that the new USA tariffs on European, Mexican and Canadian goods are illegal and a "mistake".

"The more Trump is irritating allies and asking Chinese to buy stuff, the better off they are, because he's not sitting there and attacking the hard issues", the person said.

Her comments on Friday came a day after US President Donald Trump announced the decision to levy tariff amid waves of criticism, Xinhua news agency reported. "It is pure protectionism".

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Speaking on the sidelines of a meeting of finance ministers and central bankers of the Group of Seven ― the world's seven leading economies ― European Commission Vice President Valdis Dombrovskis told Reuters such an approach made it tougher to bring China in line.

Maude urged the European Union to avoid a "tit-for-tat" response and instead stick "robustly to free trade".

"That is why we are challenging the United States and China at the WTO and it demonstrates that we are not choosing any side", she said.

On Thursday, the United States announced tariffs of 25% on steel and 10% on aluminium from Canada and others, from Friday. It's counterproductive, that any government that embarks on a protectionist path inflicts the most damage on itself.

In a statement to The Associated Press, the company said it views the tariffs with "regret and concern".

VW says "there are fears that this marks the start of a negative spiral of measures and countermeasures where there will ultimately be no winners". They report a really high surplus on trade with us.

It cautions "any escalation is harmful to both sides".

And on Tuesday, Trump said during a rally that he was going to make Mexico pay for a wall along the USA border.

But the NAFTA talks sputtered anyway, and the Trump administration imposed the tariffs at midnight Thursday. This could mean that the EU will either neutralize or retaliate against the US with European tariffs. U.S. Commerce Secretary Wilbur Ross is leaving Friday for Beijing for talks aimed at preventing a trade war with China.

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