/EU’s Malmstrom: US trade tariffs would damage transatlantic relations | by Haresh Menghani | FXStreet

EU’s Malmstrom: US trade tariffs would damage transatlantic relations | by Haresh Menghani | FXStreet

Cecilia Malmstrom, EU’s trade commissioner, was out on the wires in the last hour, commenting on the US President Donald Trump’s proposal to steep steel and aluminium tariffs.    •  Have serious doubts about justification for steel and aluminium tariffs   •  Still hopes that the EU will be excluded from US tariffs   •  Talking to different partners to co-ordinate WTO challenge   •  EU getting ready to put in place safeguard measures to prevent metal flooding into EU   •  Root cause of problem with steel and aluminium is over capacity   •  EU will respond to any tariffs in proportionate way