'EU should impose rebalancing duties on US products'

The European Commission said on Wednesday, the European Union (EU) should apply the rebalancing duties on the United States' (US) products from July.

This comes after the US imposed tariffs on EU steel and aluminium.

As per Xinhua, the commission in a statement said, "The College of Commissioners endorsed today the decision to impose additional duties on the full list of U.S. products notified to the World Trade Organization (WTO), as part of the EU's response to the U.S. tariffs on steel and aluminium products."

Terming the decision taken by the US illegal, EU trade commissioner Cecilia Malmstrom said they will take measures to safeguard EU's interests.

US President Donald Trump in March, announced plans to impose a 25 percent tariff on imported steel and 10 percent on aluminum.

It however, decided to delay the implementation of the tariffs for some trading partners, including the EU.

The White House in late April gave 30 days to the EU member states, Canada and Mexico to reach agreements over trade negotiations, by extending the steel and aluminum tariff exemptions until June 1.

No conclusion has been reached through these negotiations till now.