A previously unthinkable US and EU trade war has begun

[workinclasszero]

WRITTEN BY Jill Petzinger 4 hours ago

The US confirmed today (May 31) that it’s slapping the European Union, Mexico, and Canada with tariffs on steel and aluminum imports.

After months of threats, the White House announced that it would not extend the EU’s exemption from 25% duties on imports of EU steel, and 10% on its aluminum. US commerce secretary Wilbur Ross said the tariffs will go into force from midnight tonight. Canada and Mexico, the US’s biggest trading partners along with the EU, will also not be granted waivers from the punitive tariffs.

A trade war would have been almost unthinkable in the decades of trade relations between the EU and its long-time ally North America. But then Donald Trump entered the White House with promises to protect US industries, and claims that the country was being cheated and treated unfairly in its global trade relationships.

The reaction from Brussels was a mixture of dismay and defiance. European Commission president Jean-Claude Juncker tweeted: “It’s a bad day for world trade. US leaves us no choice but to proceed with a WTO dispute settlement case and the imposition of additional duties on a number of US imports. We will defend the EU’s interests, in full compliance with international trade law.”


https://qz.com/1293592/trade-war-begins-trump-slaps-steel-and-aluminum-tariffs-on-the-eu-canada-and-mexico/

[YessirAtsaFact]

1. America Jerk, not first

Screw OrangeTurd

[Rene]

2. I'm sure Steve Miller is behind drumpf's outrageous tariff talk

and/or he's following putin's direction to de-stabilize our relationships/economy

[workinclasszero]

3. Putin would benefit from the chaos alone

So I’m sure he has instructed his puppet to start global trade wars.

[bornfree17]

4. Not surprised

To hear this. When trump said he would reopen the steel industries at his rallies how did people think he was going to do it?

People should be careful what they wish for

[workinclasszero]

5. The problem is it could create a few hundred jobs

at the cost of thousands of other jobs. And cranking up inflation as well.

[bornfree17]

6. Exactly nt