“We are asking for everyone: quotas if not tariffs,” Wilbur Ross, Commerce Secretary, said on Friday.
He also added that they have to make a decision on the issue until May 1, 2018. As it is noted, if the EU states and Canada refuse to accept quotas, the U.S. will impose duties in the amount of 25% for steel import and 10% for aluminium import.
The European Union has not made a final decision yet.
“A trade war is a losing game for everybody,” Johan Van Overtveldt, Belgian Finance Minister, said. He called his EU colleagues for preserving tranquility and find a solution which would avoid losses for everyone.
The news agency notes that Europe faces a challenging choice – whether to agree on the U.S. quotas which violate the rules of the World Trade Organization (WTO) or get under the restrictive customs duties which contradict with WTO and EU regulations.
The amount of the quota for the European goods in the U.S., including metal and aluminium will make 90% of Europe’s deliveries to the USA over the last two years. And the customs duties will make 25% for metal and 10% for aluminium. All American allies have this choice, except South Korea, which managed to make a new deal on free trade with the USA and will be released from all the protective measures.
Donald Trump, the U.S. President, signed a decree on imposing of import duties for metal and aluminium in the amount of 25% and 10%, but a number of countries, including the European states and Canada, got a respite.