The European Commission has warned of potential retaliatory measures following the United States' decision to increase steel tariffs, marking a new flashpoint in transatlantic trade relations. In a statement released Thursday, EU officials expressed "profound regret" over the move and emphasized their readiness to implement countermeasures should bilateral negotiations fail.
The development comes as global markets brace for ripple effects across supply chains. Analysts suggest Asian economies with significant steel exports – including Japan and South Korea – could face collateral damage if trade barriers escalate. The EU's proposed measures reportedly target strategically sensitive U.S. industries, though specific details remain confidential pending further diplomatic discussions.
"While we prefer dialogue, we must protect our single market from unfair trade practices," an EU trade spokesperson told KhabarAsia. The statement highlighted Europe's commitment to World Trade Organization rules while acknowledging the complex balancing act between economic security and global cooperation.
Business leaders across Asia are monitoring the situation closely, with particular attention to how tariff adjustments might affect regional manufacturing hubs and raw material pricing. The dispute coincides with renewed efforts by Southeast Asian nations to position themselves as neutral ground for high-tech steel production.
