Trump administration could potentially renew tariffs on European steel and aluminium, our correspondent William Denselow reports.
#US #EU #Tariffs
#US #EU #Tariffs
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00:00A real question is what exactly would be targeted by the Trump administration.
00:05Perhaps we can go back in history and with some sense and get a sense of what
00:12exactly could be targeted during his first term in office if we cast our
00:15minds back to 2016 Donald Trump imposed tariffs on European steel and
00:20aluminium. Now that is on pause and that that pause is set to expire this year so
00:27we could see those tariffs come back into action at some point for steel and
00:32aluminium so that's certainly one sector to look at but essentially the message
00:37from Kaya Callas is that there are no winners in this trade war considering
00:41that it's a relationship that is so close. When it comes though to what could
00:47be done to potentially stave off the threat of a trade war well European
00:52officials have been trying to appease President Trump in recent weeks. We've
00:56heard from Ursula von der Leyen the European Commission president who says
01:01that she is seeking a positive relationship with the US and that it
01:05would be pragmatic as well going forward but she said that she would
01:09safeguard European interests. However she has also suggested that the EU could
01:15conceivably take in and buy more US liquefied natural gas as a way of easing
01:21Donald Trump's perceived concerns about a trade imbalance. Whether that'll be
01:26enough to stave off the risk of tariff war that will certainly remain to be seen.