European commission vows retaliation against US tariffs
The President of the European Commission, Ursula von der Leyen, has announced that the U.S. decision to impose tariffs on European steel and aluminium exports will not go unchallenged.
"I deeply regret the U.S. decision to impose tariffs on European steel and aluminum exports. The EU will act to safeguard its economic interests. We will protect our workers, businesses and consumers," von der Leyen wrote on platform X.
In a similar tone, EU Trade Commissioner Maros Sefcovic, who is participating in a morning debate at the European Parliament in Strasbourg on global trade challenges, expressed his views.
As he emphasized, by imposing tariffs, the United States will be taxing its own citizens, increasing costs for its own businesses, and driving inflation.
EU Affairs Minister Adam Szłapka also participated in the debate. In the context of global trade challenges, he stated that the EU is unafraid to utilize its available instruments to counter unfair competition in trade and is capable of protecting the economy.
The tariffs announced by the U.S. on Monday on steel and aluminium imports will come into effect on March 12, according to a decree signed by President Donald Trump. The new tariffs will affect Canada, the largest exporter of these goods, as well as Brazil and the EU, among others.
The document signed by Trump aims to reinstate the tariffs introduced in 2018 on imported steel from all countries and increase the aluminium tariff rate from 10 percent to 25 percent. In practice, this means tariffs on steel and aluminium will affect Canada, Mexico, Brazil, the European Union, Japan, and the United Kingdom, which were exempt from the tariffs announced by Trump in 2018.
Canada as a major aluminium supplier to the USA
According to data from the American Iron and Steel Institute, the largest steel exporters in 2024 were Canada (6.5 million metric tonnes), Brazil (4.5 million), and the European Union (4.3 million, with Germany, the Netherlands, and Romania accounting for half of that total).
Canada is by far the largest source of aluminium, responsible for over half of its supply to the USA. The European Union (mainly Greece, Germany, and Austria) is the third-largest exporter, behind the United Arab Emirates.
Similar tariffs—25 percent on steel and 10 percent on aluminium—were imposed by Trump during his first term, although Canada, Mexico, and Brazil were partially exempted, and under President Joe Biden, also the European Union, Japan, and the United Kingdom. The new tariffs will be added to the existing ones.
