Trump plans to go ahead with steel, aluminum tariffs on EU

President Donald Trump's administration is planning to impose tariffs on European steel and aluminum imports after failing to win concessions from the European Union, a move that could provoke retaliatory tariffs and inflame trans-Atlantic trade tensions.

US and European officials held last-ditch talks in Paris today to try to reach a deal, though hopes are low and fears of a trade war are mounting.

"Global trade is not a gunfight at the OK Corral," France's finance minister quipped after meeting US Commerce Secretary Wilbur Ross. "It's not about who attacks whom, and then wait and see who is still standing at the end."
German Chancellor Angela Merkel stressed her opposition to the tariffs Thursday. "We believe these tariffs aren't compatible with WTO rules," she said in Lisbon. EU leaders want "exceptions from these tariffs and have offered to hold talks on a certain basis." But if there are no exemptions, she said, "We will respond in an intelligent, decisive and joint way."
EU Commission spokesman Margaritis Schinas said today the European side is "ready to deal with any kind of scenario, and to defend the EU interests and international trade law."