WASHINGTON (AP) – 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.
Local reactions
“This is a big mistake. These tariffs will raise prices and destroy manufacturing jobs, especially auto jobs, which are one third of all Tennessee manufacturing jobs. I have urged President Trump to focus on reciprocity-do for our country what our country does for you-instead of imposing tariffs, which are basically higher taxes on American consumers.” – United States Senator Lamar Alexander (R-Tenn.)
The tariffs are likely to go into effect on the EU with an announcement by Friday’s deadline, according to two people familiar with the discussions. The administration’s plans could change if the two sides are able to reach a last-minute agreement, said the people, who spoke on condition of anonymity to discuss internal deliberations.
French President Emmanuel Macron delivers a speech at the OECD ministerial council meeting on “Refounding Multilateralism” in Paris, France, Wednesday, May 30, 2018. Macron warned against trade wars in an impassioned speech about international cooperation Wednesday, two days before the Trump administration decides whether to hit Europe with punishing new tariffs. (Philippe Wojazer/Pool Photo via AP)Trump announced in March the United States would slap a 25 percent tariff on imported steel, and a 10 percent tariff on imported aluminum, citing national security interests. But he granted an exemption to the EU and other U.S. allies; that reprieve expires Friday.