2025/6/2 Steel tariffs rise; the EU takes a hardline stance
President Trump will announce the following over the weekend
・Plan to raise steel tariffs by 25% to 50% (from June 4)
・The United States plans broader China tech sanctions targeting subsidiaries
In response to the above steel tariff announcement, the European Commission reports the following from Reuters, suggesting a somewhat risk-off tone early next week.
・The EU is prepared to take countermeasures, including responses to recent U.S. tariff hikes
・The European Commission is currently finalizing talks on expanded countermeasures
・If no agreement is reached, countermeasures could be taken by July 14, possibly sooner
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