French Minister of Economy: neither understand nor accept tariffs imposed on steel and aluminum from the United States
Jun. 12, 2018
France’s Minister of Economy and Finance, Bruno Le Maire, published an article on the 6th saying that he was disappointed and worried about the United States’ decision to impose tariffs on steel and aluminum. He neither understood nor accepted the recent US decision.
Le Maire published a signed article in the French newspaper Le Figaro that day that the trade war was only a loser and that no one would benefit from it. The escalation of trade tensions threatened the economic recovery in Europe.
Le Maire said that the EU will respond to the US approach with a firm attitude and strong measures to safeguard its own economic sovereignty.
Le Maire believes that if the United States wants to resume dialogue with the EU, it must take the initiative to take the first step and show its willingness to cooperate. France and the EU will continue to make proposals for improving the multilateral system. "Only a powerful and modern multilateral system can cope with the serious imbalances and injustices that are present in international trade."
The European Commission issued an announcement on the 6th that, as a countermeasure against tariffs imposed on steel and aluminum products by the United States, the European Commission approved the same day to impose additional tariffs on all US products that have been notified to the World Trade Organization. The collection measures will take effect in July.