European Union to respond to United States tariffs within 90 days if not exempt

WORLDBONDS TERRORLAW

He invoked the rarely used Section 232 of the 1962 Trade Expansion Act which authorises the Secretary of Commerce to conduct comprehensive investigations to determine the effects of imports of any article on the USA national security.

Complicating matters, Trump indicated that the sparing of Australia was linked to an unspecified "security agreement" outside of trade policy.

"President Trump has recently said, and I quote, "Trade wars are good and easy to win".

The EU exported about 5.5 million tons of steel to the USA a year ago.

He said, "What strikes me is whatever convictions you have about trade, we are convinced that disputes should be discussed and resolved in a multilateral framework".

U.S. President Donald Trump set import tariffs on Thursday of 25 percent on steel and 10 percent on aluminium, to come into force in 15 days.

"As a close security and trade partner of the U.S., the European Union must be excluded from the announced measures", she tweeted after bilateral and trilateral meetings.

Japan, the US's top economic and military ally in Asia, was next in line.

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"We should never normalize this kind of behavior, particularly from the president of the United States", Flake said . Flake is now drafting legislation that would nullify the tariffs, worrying they will disrupt the economy.

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The tariffs would "seriously impact the normal order of global trade", the Ministry of Commerce said. It was the most explicit threat yet from the country in the escalating trade row.

Mr Eggert then demanded European Union instate protective measures for the industry, adding: "We cannot stand by and watch the USA light a match under the global trading system".

"Europe is certainly not a threat to American internal security so we expect to be excluded", Malmstrom told reporters before speaking at a conference in Brussels.

This shed light on Trump's attacks against Germany - the biggest economy in the European Union - that have accused Berlin of contributing much less than the USA toward the funding of North Atlantic Treaty Organisation.

EU Commissioner Cecilia Malmstrom, who coordinates policy for the world's biggest trading bloc, said she shared US concerns about overcapacity in the steel sector but did not believe in tariffs as a way to solve the problem.

It comes as Prime Minister Malcolm Turnbull confirmed Australia will be exempt from the tariffs once Mr Trump signs an executive order, . The latest in a series of Trump's "America First" initiatives, the decision has met swift, strong backlash from major trading nations, including Washington's security allies.

In terms of employment, the same argument goes that the number of American jobs to be lost in other industries because of the higher steel prices would be greater than that of workers to be added to the steel sector. The commerce minister also blamed the trade imbalance in part on controls over USA high-tech exports to China.

On Friday China's Commerce Ministry official Wang Hejun stated that Beijing will take "firm actions" if the tariffs inflict losses on Chinese businesses. We can not lose our steel industry.

The dispute has fuelled concerns that soybeans, the United States' most valuable export to China, might be caught up in the row after Beijing launched an inquiry probe into imports of US sorghum, a grain used in animal feed and liquor.

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