EU vows to retaliate if hit by US trade curbs

The European Union has warned that it would take "appropriate measures" to defend its interests if the US imposes tough trade sanctions.

European Commission spokesman Margaritis Schinas said during a daily briefing in Brussels on Tuesday that the 28-nation bloc would be "deeply concerned" by any sanctions hitting EU businesses.

"We would be taking appropriate measures to defend EU industry, and we stand ready to react swiftly and appropriately in case our exports are affected by any restrictive trade measures from the United States," Schinas said.

Elsewhere in his remarks, Schinas said international trade would always remain "win-win" if partners played by the rules. "We are not in a trade war." 

The US Commerce Department has recommended imposing heavy tariffs on China, Russia and other countries to counter excess supply of steel and aluminum which it says threatens US national security.

In two reports submitted to Trump last month and made public on Friday, Commerce Secretary Wilbur Ross proposed a range of possible options, including a tariff of at least 24 percent on all steel imports worldwide, and a similar tariff on aluminum imports from China, Russia and three other countries.

PressTV-US to impose tariffs on China, Russia over steel imports

The US Commerce Department has recommended imposing heavy tariffs on China, Russia and other countries to counter excess supply of steel and aluminum.

Germany's Frankfurter Allgemeine Zeitung newspaper reported Tuesday that that the EU had already drawn up specific retaliatory measures to counter Trump.  According to the newspaper, Brussels was mulling tarrifs on Harley-Davidson motorcycle imports as well as bourbon from Tennessee and Kentucky.

In late January Trump expressed his annoyance with EU trade policy, saying that it "may morph into something very big."

In an interview with Britain’s ITV network during the World Economic Forum in Davos, Switzerland, Trump described EU trade policies toward the US as "very, very unfair.”

In response, the EU said it stands ready to hit back "swiftly and appropriately" if Trump imposes unfair trade measures.

Trump has repeatedly blamed unfair trade deals and abusive practices for the massive US trade deficit and the loss of high paying factory jobs.

The US runs a substantial trade deficit with the EU, importing over $93 billion more in goods and services than it exported to EU members in 2016, according to the US Department of Commerce. Germany itself accounted for more than two-thirds of the deficit.

The deficit with China stood at nearly $310 billion in 2016, with imports from Japan and Mexico also exceeding US exports, by $57 billion and $63 billion, respectively.

Trump’s stance has stoked fears of retaliation and a global trade war. In addition to that, any US action is likely to be challenged by exporting nations in the World Trade Organization.

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