US decision to raise tariffs on steel and aluminum imports will harm the economy

The European Commission criticized the decision of the U.S. President Donald Trump on Saturday to raise tariffs on steel and aluminum imports from the EU from 25 to 50 percent, calling it regrettable and harmful to the global economy.

EC spokesperson Olof Gill warned in a statement that the EU is ready to implement retaliatory measures if an agreement with Washington is not reached.

“We strongly regret the announced increase in U.S. tariffs on steel from 25 to 50 percent. This decision increases uncertainty in the global economy and raises costs for consumers and businesses on both sides of the Atlantic,” he added.

He emphasized that the EC, in good faith, suspended its own retaliatory measures on April 14 to create space for further negotiations, but at the same time, the EU is finalizing internal consultations on expanding possible actions.

“If an acceptable solution for both sides is not reached, existing and new EU measures will automatically come into effect on July 14 or earlier if necessary,” the spokesperson added.

He noted that the EU is “ready to act in defense of its interests – protecting workers, consumers, and industry.”

Trump announced on Friday that tariffs on steel and aluminum imported into the U.S. will rise from June 4 from 25 to 50 percent. Additional charges – as he emphasized – will strengthen the U.S. steel industry. According to the dpa agency, in 2024 the U.S. was the largest steel importer in the world. (01.06.2025)