MoneyNewsPoliticsTop NewsWorld

EU leaders warn Washington against the consequences of a trade war

EUROPEAN UNION (OBSERVATORY) –¬†Berlin, London and Paris have expressed their willingness to defend their business interests if Washington leases customs duties on their products.

German Chancellor Angela Merkel on Saturday telephoned French President Emmanuel Macron and British Prime Minister Teresa Mae, and the three leaders agreed that the United States should avoid resorting to political trade measures against the EU, German government spokesman Steffen Seibert said.

The leaders of Germany, Britain and France also pointed to “the need for the European Union to prepare firmly for its interests within the framework of the global trading system.”

Earlier, European Trade Commissioner Cecilia Malmstr√∂m threatened Washington with a “triple-track response” if the latter imposed EU-EU steel and aluminum duties, including a return to the World Trade Organization, steps to support European producers, Imported American goods.

US President Donald Trump has approved tariffs on his country’s steel imports by 25 percent and aluminum by 10 percent since March 23, although he postponed the decision to EU countries and other countries until May 1.