US tariffs are lose-lose scenario and will fuel inflation, says EU trade commissioner
ReutersFeb 11, 2025 8:23 AM
BRUSSELS, Feb 11 (Reuters) - The United States will be fuelling inflation with its move to resume tariffs on aluminium and steel imports, European Union trade commissioner Maros Sefcovic told the European Parliament on Tuesday.
U.S. President Donald Trump raised tariffs on aluminium and steel to 25% on Monday without exemptions in a bid to revive the flagging American industry, a move that risks sparking a global trade war.
Sefcovic said the tariffs were a lose-lose scenario, but the EU remained committed to finding a mutually beneficial solution with the United States as soon as possible.
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