The EU expects to be excluded from US President Donald Trump's decision to impose tariffs on steel and aluminium imports, but is prepared to retaliate within 90 days if necessary.
The European Union is lobbying the Trump administration in hopes of winning an exemption to the new tariffs, which President Donald Trump has imposed on all nations except Mexico and Canada.
"We will work with EU partners to consider the scope for exemptions outlined today and continue to work with all the sectors involved in this decision to robustly support our industries", the government said a statement.The EU has threatened retaliatory tariffs on a wide range of U.S. imports items; from steel to peanut butter, bourbon and denim jeans - most of which are produced in states that Trump needs to win reelection.
Malmstrom said she would discuss the issue at a long-planned meeting on Saturday with US Trade Representative Robert Lighthizer and his Japanese counterpart Hiroshige Seko, noting that it was "not crystal clear" what Trump had decided Thursday.
EU President Donald Tusk yesterday warned Trump that "trade wars are bad and easy to lose", directly rebuffing the U.S. leader's claim last week they were "good and easy to win". "However, it is our goal to avoid a trade war".
Despite Juncker's headline-grabbing threat to iconic United States brands, the EU's hitlist, written in the dry language of customs regulations, does not mention specific businesses.
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"President Trump has recently said, and I quote, 'trade wars are good and easy to win, '" Tusk told a press conference in Luxembourg.
EU Trade Commissioner Cecilia Malmstroem said the bloc was "not preparing for battle" but had to be ready to protect its industry. Trump tweeted that he spoke with Japanese Prime Minister Shinzo Abe, saying they are "discussing opening up Japan to much better trade with the U.S. now have a massive $100 Billion Trade Deficit".
The EU is also maintaining a threat of counter-measures that would target USA imports ranging from maize to motorcycles, and may publish its list next week to allow industry and other interested parties to give their input.
The European Union said it's ready to retaliate against the USA over President Donald Trump's proposed tariffs on steel and aluminum - with counter-measures against iconic US products like Harley Davidson motorcycles, Levi's jeans and bourbon.
Brazil, which after Canada is the biggest steel supplier to the United States market, said it wanted to join the exemption list and Argentina made a similar case.
Bailey said that the European Union could enlist allies like Canada, South Korea and Japan to bring a case against China at the World Trade Organization.