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EU warns of retaliation against any tariff on steel, aluminium by the US

Speaking in Singapore, EU trade commissioner Cecilia Malmstrom said any move that would target Europe would be "deeply unfair"

Reuters  |  SINGAPORE 

Man of steel
(Photo: Reuters)

The European Union's on Friday warned of possible retaliation if U.S. Donald Trump's plans to impose hefty tariffs on and aluminium apply to

Trump said on Thursday the duties, 25 percent on and 10 percent on aluminium, would be formally announced next week, although officials later said some details still needed to be ironed out.

Speaking in Singapore, EU said any move that would target would be "deeply unfair".

"We are discussing different measures. Everything from bringing the case to the WTO (World Trade Organisation), alone or with partners who are also affected, and also safeguard measures and possible retaliation," Malmstrom said.

"These are things we are discussing internally in the (EU)Commission and with our member states. But obviously nothing will be announced until we know the full extent of these measures."

Earlier on Friday, Australia's also said the planned tariffs risk retaliation from other economies and could cost jobs, while predicted harm to trade if other countries follow the example of the U.S.

Fears of an escalating trade war roiled Asian markets, hitting the share prices of steelmakers and manufacturers supplying U.S. markets particularly hard.

First Published: Fri, March 02 2018. 18:08 IST