EU Risks Being ‘Collateral Damage’ in U.S.-China Trade Fight
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The European Union is ready to retaliate against the U.S. if Washington decides next week to make tariffs on metals imports permanent, according to French Finance Minister Bruno Le Maire.
“We strongly believe that we do not have to be the collateral damage of a possible trade war between the U.S. and China,” Le Maire said before a meeting of euro-area finance ministers in Sofia, Bulgaria. “We fully recognize that there is difficulty with steel and aluminum overcapacity,” he said, but “the right solution is not to raise the tariffs for the EU.”