EU ‘prepared to impose countermeasures’ after Trump doubles steel tariffs to 50%

The European Union on Saturday criticized President Donald Trump’s move to double tariffs on steel imports, warning that it “undermines” efforts to reach a “negotiated solution” in the ongoing trade war.

“We strongly regret the announced increase of U.S. tariffs on steel imports from 25% to 50%,” an EU spokesperson said in a statement to NBC News.

“This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic,” the spokesperson continued.

The spokesperson added that the EU is “prepared to impose countermeasures, including in response to the latest U.S. tariff increase.”

Trump on Friday announced that he was doubling tariffs on steel imports to 50% from 25%, increasing the pressure on manufacturers dependent on industrial metals for production.

The new import duties are set to go into effect June 4.

His announcement, made at a rally at U.S. Steel in Pennsylvania, came after the president signaled that he would approve a controversial merger between Nippon Steel and U.S. Steel.

Trump highlighted an “agreement” between Nippon and U.S. Steel during the Friday rally, but said that the deal was not yet final.

The EU, which said that it had paused its countermeasures against the U.S. on April 14 “to allow time and space” for negotiations, said it is prepared to instate those measures “if no mutually acceptable solution is reached.”

“The European Commission is currently finalizing consultations on expanded countermeasures,” the spokesperson said. “If no mutually acceptable solution is reached, both existing and additional EU measures will automatically take effect on 14 July — or earlier, if circumstances require.”