19:16 GMT11 August 2020
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    MOSCOW (Sputnik) - The European Union could respond to the introduction of new US tariffs on steel and aluminum imports in three ways - by introducing safeguard measures, re-balancing the US move in accordance with the World Trade Organization (WTO) rules or resorting to dispute settlement consultants, the European Commission president said.

    "Should the need arise the European Union will respond in three ways. First, under WTO rules we have the right to re-balance these measures and we stand ready to do so. Secondly, we will be ready with safeguard measures… And thirdly, we will seek dispute settlement consultants in the WTO in conjunction with other affected countries," Jean-Claude Juncker said.

    READ MORE: Germany's AfD Criticizes EU’s 'Export Hurdles', Supports Trump's Metal Tariffs

    The European official added that Washington's decision to impose tariffs was a "lose-lose" step.

    On Thursday, US President Donald Trump signed a new policy to impose 25-percent and 10-percent tariffs on imported steel and aluminum respectively. The action will go into effect in 15 days.

    The decision of the United States has already been widely criticized by a number of countries and officials around the world. On Wednesday, EU Trade Commissioner Cecilia Malmstrom said that the 28-nation bloc could consider the introduction of responsive measures against certain groups of US products. International Monetary Fund (IMF) Managing Director Christine Lagarde warned that, if implemented, US tariffs could lead to a trade war that would have grave macroeconomic consequences.


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    metal, tariffs, response, EU, Donald Trump, Jean-Claude Juncker, United States
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