US President Trump wants to impose new tariffs-this time it hits the steel and aluminum industry. This week, a volume of 25 percent is expected to apply for imports from all countries. The EU could react with counter -tariffs.
US President Donald Trump wants to occupy steel and aluminum imports to the United States with tariffs of 25 percent. They are to be announced at the beginning of this week, as the Republican explained to journalists during a flight with the Air Force One on the way to New Orleans to the Super Bowl – the US football final. They should affect all countries. Exceptions would also not apply to the neighbors Canada and Mexico.
He will also announce “mutual tariffs” (Reciprocal Taiffs). This means that the USA would raise import duties on products if another country imposes tariffs on US goods. “Quite simply: if you calculate something to us, we will charge you something,” said the US President.
When asked by a reporter, when the tariffs would come into force, Trump replied: “Almost immediately.” He will therefore announce the new taxes for steel and aluminum on Monday, the others “probably on Tuesday or Wednesday”.
Commercial war was initially averted
It was only at the beginning of the week that a North American trade war with uncertain consequences for the global economy was initially averted. Trump, just a few hours before the came into force of threatened punitive tariffs of 25 percent on goods from neighboring countries Mexico and Canada, attended concessions, especially for border security. For this he pushed the trade restrictions on for at least 30 days.
With regard to the economically powerful rivals China, the US President did not let himself be talked about: Puncture tariffs of ten percent of all Chinese goods came into force last Tuesday. After returning to the White House, Trump had also renewed his customs threat to the European Union. Trump wants to strengthen the United States as a production location and reduce the trade deficit with Europe.
EU wants to act determined
The EU had recently shown itself to be trump at a summit in Brussels. Chancellor Olaf Scholz (SPD) and France President Emmanuel Macron announced European countermeasures if the United States collected additional tariffs on EU goods. EU diplomats said that the European Commission had prepared possible countermeasures a long time ago. In the TV duel in the first, Scholz said that the EU could react within hours with appropriate measures if Trump would impose tariffs.
During Trump's first term, the EU had confidently countered new taxes on steel and aluminum products from Europe on Bourbon Whiskey, Harley-Davidson motorcycles and jeans. How strongly the EU reacts this time should depend on Trump's concrete decision.
Risk for the export nation Germany
New tariffs on imports from Europe would be a deep blow in particular for the German economy, which has already shrunk for two years in a row. The United States is the most important sales market for German exporters. Economists fear a trade war between the USA and the EU.
