If Donald Trump starts trade war, the EU will fight back with orange juice and peanut butter
French Finance Minister Bruno Le Maire said the EU did not want a trade war but would respond if Washington imposed tariffs
US President Donald Trump’s administration is planning to impose tariffs on European steel and aluminium imports after failing to win concessions from the European Union, a move that could provoke retaliatory tariffs and inflame transatlantic trade tensions.
US and European officials held last-ditch talks in Paris on Thursday to try to reach a deal, though hopes were low and fears of a trade war were mounting.
“Global trade is not a gunfight at the OK Corral,” France’s finance minister quipped after meeting US Commerce Secretary Wilbur Ross.
“It’s not about who attacks whom, and then wait and see who is still standing at the end.”
The tariffs are likely to go into effect on the EU with an announcement before Friday’s deadline, according to two people familiar with the discussions.
The administration’s plans could change if the two sides are able to reach a last-minute agreement, said the people, who spoke only on condition of anonymity to discuss internal deliberations.
Ross told Le Figaro newspaper that the announcement would come Thursday, likely after markets close.