You are here: Home » News-IANS » Politics
Business Standard

EU prepares measures to counter new US tariffs

IANS  |  Paris 

The (EU) is planning "a whole arsenal" of counter-measures if US goes ahead with imposing new tariffs on and aluminium amid global opposition, an said on Thursday.

"is wrong. All war is bad and in trade war there would be only losers ... The Commission is preparing a riposte," told a French television news channel.

"If puts in place the measures this evening, we have a whole arsenal at our disposal," quoted Moscovici as saying.

The former French Minister said that "immediate" retaliatory measures would include European tariffs on US exported oranges, tobacco and bourbon, and goods which he said were mainly produced in constituencies held by Trump's

would also take measures to limit eventual excess of and aluminium into in line with Trade Organisation (WTO) rules while filing a complaint before the WTO, he added.

Moscovici said "wants to avoid escalation" but "must keep the multilateral framework" because "protectionism is never the answer: protectionism is nationalism, nationalism is war and the war only makes losers."

Trump announced on March 1, that the US was set to impose a 25 per cent on and 10 per cent on aluminium imports.

Trump is expected to sign the text on new duties later Thursday.

--IANS

in/dg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 08 2018. 18:26 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU