EU warns it will retaliate if hit by U.S. trade curbs

BRUSSELS (Reuters) – The European Commission said on Tuesday it had expressed its concern to Washington about possible measures to curb imports of steel and aluminum and warned that it was ready to react if its industry was hit.

“We have made it clear to the U.S. administration at the highest level that we would be deeply concerned about measures that affect the EU industry,” Commission spokesman Margaritis Schinas told a news conference.

“We would be taking appropriate measures to defend EU industry and we stand ready to react swiftly and appropriately in case our exports are affected by any restrictive measures by the United States,” he continued before adding: “No, we are not in a trade war.”

The U.S. Commerce Department has recommended that President Donald Trump impose steep curbs on steel and aluminum imports from China and other countries ranging from global and country-specific tariffs to broad import quotas, according to proposals released on Friday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.