- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

EU-US Trade Wars Cannot Have Any Winners - French Economy Minister

© AFP 2022US and European flags float in front of the European Commission headquarters in Brussels 22 February 2005
US and European flags float in front of the European Commission headquarters in Brussels 22 February 2005 - Sputnik International
Subscribe
International
India
MOSCOW (Sputnik) - The trade wars between the United States and the European Union cannot have any winners, the protectionism cannot bring any results, French Minister of the Economy Bruno Le Maire said Monday.

In early March, US President Donald Trump announced the US decision to introduce 25-percent tariffs on steel imports and 10-percent tariffs on aluminum imports.

"We are worried [about] the possibility of having a trade war between the United States and the EU because we believe that there will be only losers. We believe that protectionism is a dead end," Le Maire told reporters.

A worker at a blast furnace at Europe's largest steel factory of Germany's industrial conglomerate ThyssenKrupp AG in Duisburg, Germany December 6, 2012. - Sputnik International
'We Are not Afraid': EU Stands-Up to Trade 'Bullies' in Tariff Row With US
Le Maire stressed that the EU reaction to Trump's proposed tariffs should be strong and united.

The French minister added that the issue of the overproduction of steel should be decided within the framework of the World Trade Organization or G20.

READ MORE: US Tariffs: 125 Republican Congressmen Asked Trump 'Don’t Do This' — Lawyer

Pierre Moscovici, the European Commissioner for Economic and Financial Affairs, Taxation and Customs, told reporters that Europe should be prepared to respond if the other country was behaving aggressively.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала