Donald Trump Has Conditions to Cancel Tariffs on Metal for the EU

Photo from Ukrinform – UATV

 

The United States President, Donald Trump, has conditions to cancel his tariffs on steel and aluminum for the European Union.

He thinks that Europe has to make the first step and drop tariffs on imported American goods, UNN reported, referring to Trump’s Twitter.

https://twitter.com/realDonaldTrump/status/972585290857672704

He added that if this does not happen, the U.S. will also tax cars and other goods.

Earlier, on March 8, Trump imposed tariffs for the import of aluminum and steel: 10 and 25 percent respectively. Tariffs would not apply to Canada and Mexico, because he intends on assessing the progress on negotiations on the revision of the North American Free Trade Agreement.

According to Trump, the tariffs are aimed at protecting the U.S. economy. At the same time, critics point out that it is unlikely to provide additional jobs in the U.S.

Trump’s decision was criticised heavily and feared by the EU, Canada, China and within the United States. The International Monetary Fund and other experts have stated that tariffs could be detrimental to the US economy, since a number of industries depend on the supply of cheap steel and aluminum, and the losses of these industries could outweigh the benefits of restoring local metallurgy.

The Cabinet of Ministers of Ukraine is taking measures to exclude Ukrainian products from the tariffs.