U. K. Trade Secretary Liam Fox said he urged U. S. officials to reconsider imposing steel and aluminum tariffs on the European Union this week, suggesting the move has upset America’s allies more than the main culprit for overcapacity, China.
U. K. Trade Secretary Liam Fox said he urged U. S. officials to reconsider imposing steel and aluminum tariffs on the European Union this week, suggesting the move has upset America’s allies more than the main culprit for overcapacity, China.
The EU and other foreign trading partners are seeking exemptions to the 25 percent tariffs on imported steel and 10 percent on aluminum that President Donald Trump announced this month. Trump justified the tariffs by invoking Section 232 of a 1960s trade law, which allows the president to unilaterally impose sanctions if imports are found to be a threat to national security. The tariffs will take effect on March 23.
The 232 national-security investigation into steel and aluminum produced an “odd result” because China “isn’t that upset” but some of America’s closest military allies are, Fox said at an event hosted by the BritishAmerican Business group and Thomson Reuters in New York on Friday.
