The European Union has taken to the World Trade Organization to seek compensation from the US tariffs on steel and aluminium imports. Brussels rejected the “national security” justification.
Even though the 28-nation bloc was temporarily exempted from the tariffs, the EU wants to hold consultations with the US as soon as possible.
As reported by Deutsche Welle (DW), Germany’s international broadcaster, the aim of the discussions would be to “exchange views and seek clarification regarding the proposed measures”.
One of the main concerns is that the EU, a major exporter of steel and aluminium products, is worried the tariffs would not only limit the imports of its goods into the US, but also lead to its products flooding back into its own markets, causing an oversupply.
The EU wants a full and unconditional exemption from the tariffs on steel and aluminium. Brussels has also ruled out any negotiations with the US while under pressure or being threatened.