The EU has the international law on its side

The EU should react cool-headed to the protectionist trade policy of the Trump administration, says BDI President Dieter Kempf as a response to the US customs on aluminium and steel. “Make America Great Again“ does not work with protectionism.

“US-President Trump risks a setback of the transatlantic partnership for many decades with the customs dispute he initiated. His uncompromising action is short-sighted and self-destructive. “Make America Great Again“ does not work with protectionism. Trump puts supply chains at risk, endangers a lot of jobs in the manufacturing industries and raises the prices of products for American citizens. Trump’s protectionism will not make the American steel- and aluminium industry, which he wants to save, more competitive.

The EU must react cool-headed. The Union should carefully consider their announced countervailing duties. The EU-Commission has a range of instruments and options at its disposal to react effectively against this confrontation. The world’s largest economic zone has the international law on its side. That is why a WTO dispute settlement panel should be established, if the ongoing consultations are without a result. The primary objective should remain, that the US revokes its import restrictions on steel and aluminium. It is good, that protective measures for the steel industry are being assessed.“

     

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