EU Commission ‘strongly’ regrets announced increase in US steel tariffs

The European Commission said on Saturday that it “strongly” regrets an announced increase in U.S. tariffs on steel imports, Reuters reported.

U.S. President Donald Trump said on Friday he planned to increase tariffs on imported steel and aluminum to 50% from 25%, putting more pressure on global steel producers and deepening his trade war.

“We strongly regret the announced increase of U.S. tariffs on steel imports from 25% to 50%,” a European Commission spokesperson said in an emailed statement.

“This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic,” the spokesperson said, adding that “the tariff increase also undermines ongoing efforts to reach a negotiated solution”.