Europe, China threaten retaliation over Trump's tariffs
President Donald Trump. Photo: Samuel Corum / Anadolu Agency / Getty Images
Donald Trump's move on Thursday to push forward his tariffs on steel and aluminum imports has already prompted threats of retaliation.
Why it matters: While the tariffs aren't quite as drastic as originally believed, they're still facing backlash — even at home. Trump's decision met with immediate rebuke from high-profile Republicans and some U.S. manufacturers amid growing concern that a trade war could hurt the economy and risk thousands of jobs.
What they're saying:
- French Finance Minister Bruno Le Maire: "There are only losers in a trade war ... With our EU partners, we will assess consequences on our industries and agree (an) appropriate response."
- EU Trade Commissioner Cecilia Malmström: "The EU is a close ally of the US and we continue to be of the view that the EU should be excluded from these measures. I will seek more clarity on this issue in days to come." She also suggested that the E.U. could impose tariffs on cranberries, orange juice and peanut butter, according to The Washington Post.
- China Foreign Minister Wang Yi, per Reuters: “Especially given today’s globalization, choosing a trade war is a mistaken prescription. The outcome will only be harmful. China would have to make a justified and necessary response.”