EU's Malmstrom: Looking into safeguards of steel and aluminum, first measures could come in July

Eren Sengezer FXStreet

Speaking to Reuters in Geneva, European Trade Commissioner Malmstrom said that they were looking into safeguards of steel and aluminum and added that first measures could come in as early as July.

Key quotes (via Reuters)

U.S. tariffs on cars would be extremely unfortunate, potentially with "even bigger" EU countermeasures than in steel and aluminum.
U.S. view of national security in trade is very innovative, and hard to understand.
They seem to want to include anything.
If the U.S. wants to stop world trade organization dispute system, it is on the right track, U.S. not been willing to engage with EU on this.
Could be a possibility of a "plan b" to unblock WTO dispute settlement system but we are not really there yet.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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