Ursula von der Leyen (CDU, R), president of the European Commission, stands in the plenary chamber of the European Parliament.
Philipp von Ditfurth | Picture Alliance Getty images
The European Union plans to take revenge against the United States to new steel and aluminum tariffs, adding another element of growing global commercial tensions.
“Unjustified tariffs on the EU will not be unanswered – they will release the company and proportional remedies,” said the president of the European Commission Ursula von der Leyen Wa statement Late Monday.
The statement appears after US President Donald Trump has signed an executive order impose 25% of the tariffs on steel and aluminum. American Steelmakers shares increased rapidly on Monday after ordering.
Tariffs are effectively paid for importing good to the country. The latest tariffs can raise the price of foreign steel, and thus help in supporting steel producers. Von der Layen called the tariffs “bad for business, worse for consumers.”
Trump adopted an aggressive approach with tariffs at the beginning of his second term in the White House. He has already ordered tariffs for China, Canada and Mexico. Since then, the Canada and Mexico tariffs have been delayed by a month.
Europe is not alone, pushing into American tariffs. Last week, China New fees were announced in relation to selected US imports.
Reuters He informed that von der Leyen was to meet with the US Vice President JD Vance on Tuesday.