Thursday

28th Mar 2024

EU public demands retaliation against US

Political, public and media pressure is growing in the European Union to retaliate against US protective steel import tariffs. According to the Financial Times, the EU has warned that striking back is crucial as otherwise it will weaken the public support for open trade.

"There is no way it cannot be seen in Europe as 'you can go to hell'," commented US action EU trade commissioner Pascal Lamy. Trade commissioner said that public demands a retaliation throw issues like a US corporate tax scheme.

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Mr Lamy’s comments came shortly before EU trade officials meeting on Friday, where they are expected to discuss some retaliation against US as early as in June 18, in case they refuse to compensate EU loss on the steel conflict.

Trade commissioner admitted that early retaliation might amplify the conflict. "But if we have the right to retaliate, which I believe we have, not doing it would mean shrinking our constituency in Europe that free trade is good for everybody, provided it's within the rules," he told Financial Times.

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The US has circulated a memorandum among all European Union member states suggesting that the EU would postpone its planned mid-June retaliation against US protective steel import tariffs.

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