US$60 billion in tariffs? Not exactly

Theresa May has urged Mr Trump to drop the tariff plans

The inequities are not limited to the U.S workers because they impact our trading partners as well.

Still, the EU's 28 members said in a joint statement Friday that they regret the US decision, rejecting Mr. Trump's national security justification for the levies that the bloc called a "sector-wide protection".

The European Union leaders say that they want the temporary exemption to USA tariffs on steel and aluminum the tariffs to be made permanent. To understand this result of tariffs one must know that because of long-lived global overcapacity, the US had already established significant restrictions on imported steel.

During a regular gathering of EU leaders at the European Council where trade topped the agenda, the countries said they support the three-pronged approach against USA tariffs by the bloc's executive, the European Commission.

U.S. Trade Rep. Robert Lighthizer told the House Ways and Means Committee Wednesday that some countries won't have to pay the tariffs, which take effect Friday, while they try to negotiate exemptions. "We now look forward to pursuing a dialog with the USA on trade issues of common concern, such as global steel overcapacity", she said on Twitter.

"The U.S. strategy is a bad strategy", Macron said.

"I am pleased that they have announced a temporary exemption for the EU".

Even with a permanent exclusion from United States tariffs, "this major challenge will remain, it said, noting that Chinese primary aluminum forecast production growth increased from 5% to 13% during 2017 despite winter stoppages at several Chinese smelters, while, Chinese exports to the European Union of semifabricated products saw a double-digit increase in 2017".

"I have the impression that the USA leader wants to negotiate with the European Union by putting a gun to our head", Michel said, in an expression later echoed by Macron.

European steelmakers group Eurofer said the danger to the EU market had not disappeared, with the exemption only temporary, and that the EU needed its own quotas or tariffs to stop steel otherwise bound for the United States from flooding into Europe.

"That's a unusual way to negotiate with an ally".



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