BR100 Increased By (0.01%)
BR30 Increased By (0.53%)
KSE100 Increased By (0.28%)
KSE30 Increased By (0.29%)
AGHA 6.38 Increased By ▲ 0.06 (0.95%)
BECO 4.35 Increased By ▲ 0.08 (1.87%)
BML 62.55 Increased By ▲ 0.10 (0.16%)
BOP 31.39 Increased By ▲ 0.16 (0.51%)
CNERGY 11.73 Increased By ▲ 0.14 (1.21%)
CSIL 5.91 Increased By ▲ 0.19 (3.32%)
FCCL 61.71 Increased By ▲ 0.17 (0.28%)
FFL 14.79 Decreased By ▼ -0.23 (-1.53%)
FNEL 1.24 Increased By ▲ 0.01 (0.81%)
KEL 6.32 Increased By ▲ 0.06 (0.96%)
KOSM 5.90 Increased By ▲ 0.34 (6.12%)
LOTCHEM 24.69 Increased By ▲ 0.01 (0.04%)
MLCF 103.93 Decreased By ▼ -0.15 (-0.14%)
NBP 173.32 Decreased By ▼ -1.96 (-1.12%)
NCPL 51.83 Decreased By ▼ -0.94 (-1.78%)
NPL 54.03 Decreased By ▼ -0.09 (-0.17%)
OGDC 315.87 Increased By ▲ 2.48 (0.79%)
PACE 9.26 Increased By ▲ 0.06 (0.65%)
PAEL 35.58 Decreased By ▼ -0.22 (-0.61%)
PIBTL 13.66 Increased By ▲ 0.19 (1.41%)
PPL 226.07 Increased By ▲ 4.26 (1.92%)
PRL 80.28 Increased By ▲ 1.20 (1.52%)
PTC 46.64 Decreased By ▼ -0.21 (-0.45%)
SSGC 23.82 Decreased By ▼ -0.05 (-0.21%)
TBL 9.24 Decreased By ▼ -0.07 (-0.75%)
TELE 7.55 Increased By ▲ 0.16 (2.17%)
TPL 24.54 Decreased By ▼ -0.57 (-2.27%)
TPLP 12.99 Increased By ▲ 0.48 (3.84%)
TREET 25.98 Decreased By ▼ -0.27 (-1.03%)
TRG 53.33 Decreased By ▼ -0.11 (-0.21%)
World

Germany signals EU ‘determination’ after US tariff move

Published Updated
By

BERLIN: Germany on Monday said Europe would act in a “united and determined manner” after US President Donald Trump announced plans to impose 25-percent tariffs on steel and aluminium imports.

“In the long term, a tariff conflict only has losers,” Robert Habeck, the economy minister and vice chancellor of Europe’s biggest economy, said in a statement.

“For Germany and the EU, the most important thing is that we continue on the path of cooperation with the United States, from which both sides benefit.

“But it is also clear that Europe must and can only react to unilateral trade restrictions in a united and determined manner. And we are prepared for that.”

France also warned the EU will counter in kind and “replicate” any tariffs imposed on it by the United States. The bloc has said it has not received any official notification yet of the new duties.

EU says it would react to US tariffs, but awaits clarification

Habeck also spoke on the phone about Trump’s announcement with EU Trade Commissioner Maros Sefcovic, as well as with business groups, his ministry said.

At a regular press briefing earlier in Berlin, a ministry spokesman urged the EU and United States to engage in talks.

“It is right that we… work towards ensuring that these measures do not come into force,” the spokesman said.

On Sunday Trump told reporters aboard Air Force One that the tariffs – which he would announce later Monday – will apply to “any steel coming into the United States,” adding this will also affect aluminium.

Trump imposed similar tariffs during his 2017-2021 presidency to protect US industries, which he believed faced unfair competition from Asian and European countries.

Comments

Comments are closed for this article.