INTERNATIONAL
EU 'strongly regrets' US steel tariffs but talks going in right direction, Sefcovic says
EU trade commissioner Maros Sefcovic gestures as he speaks during a press briefing on the second day of the 2025 Ministerial Council Meeting at the OECD Headquarters in Paris, France, June 4, 2025. - REUTERS/Benoit Tessier
PARIS: European Union trade commissioner Maros Sefcovic told reporters on Wednesday (June 4) that he discussed with U.S. trade representative Jamieson Greer the U.S. decision to levy 50% tariffs on steel and aluminium, telling him that he strongly regretted the move and that it does not help trade talks.
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Sefcovic, who added that the EU has the same challenge - overcapacity - as the United States on steel, said he still believed in the negotiations with Washington but that Brussels remained ready to defend its interests.
Late on Tuesday (June 3), U.S. President Donald Trump signed an executive proclamation that activates from Wednesday a hike in the tariffs on imported steel and aluminium to 50% from the 25% rate introduced in March.
The increase applies to all trading partners except Britain, the only country so far to strike a preliminary trade agreement with the U.S. during a 90-day pause on a wider array of Trump tariffs. The rate for steel and aluminium imports from the UK - which does not rank among the top exporters of either metal to the U.S. - will remain at 25% until at least July 9.
Speaking on the sidelines of a ministerial meeting in Paris hosted by the Organisation for Economic Co-operation and Development (OECD), Sefcovic said he had agreed with Greer on how to restructure the focus of their trade talks.
Asked about China, he said he had agreed with his Chinese counterpart to clarify the rare earth situation as quickly as possible.
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AI Brief
- Trump raised tariffs on steel and aluminum imports from 25% to 50%, excluding the UK temporarily.
- EU says it shares US concerns over overcapacity but is prepared to defend its trade interests if needed.
- EU continues trade talks with the US and seeks clarity from China on rare earth exports.
Sefcovic, who added that the EU has the same challenge - overcapacity - as the United States on steel, said he still believed in the negotiations with Washington but that Brussels remained ready to defend its interests.
Late on Tuesday (June 3), U.S. President Donald Trump signed an executive proclamation that activates from Wednesday a hike in the tariffs on imported steel and aluminium to 50% from the 25% rate introduced in March.
The increase applies to all trading partners except Britain, the only country so far to strike a preliminary trade agreement with the U.S. during a 90-day pause on a wider array of Trump tariffs. The rate for steel and aluminium imports from the UK - which does not rank among the top exporters of either metal to the U.S. - will remain at 25% until at least July 9.
Speaking on the sidelines of a ministerial meeting in Paris hosted by the Organisation for Economic Co-operation and Development (OECD), Sefcovic said he had agreed with Greer on how to restructure the focus of their trade talks.
Asked about China, he said he had agreed with his Chinese counterpart to clarify the rare earth situation as quickly as possible.