Tariffs

 The Guardian - Here is European Commission president Ursula von der Leyen announcing the EU’s countermeasures this morning.

As of this morning, the United States is applying a 25% tariff on imports of steel and aluminium. We deeply regret this measure. Tariffs are taxes. They are bad for business and worse for consumers. They are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake. Prices up. Nobody needs that on both sides, neither in the European Union nor in the United States.The European Union must act to protect consumers and business.

She said the counter measures “are strong but proportionate”. As the United States is applying tariffs worth $28bn, the EU is responding with countermeasures worth €26bn.