China and eastern Europe have been "dumping" steel onto the EU market at rock bottom prices. EU steelmakers are calling for higher tariffs. An entire industry is barely scraping by due to low profit margins.
The EU is seeking compensation from the US for its tariffs on steel and aluminum, rejecting the "national security" justification. China has already dragged the US to WTO.
Europeans are still taking in the reality of a trade dispute with the US. Yet, economic historian Werner Abelshauser tells DW the topic should not be overly dramatized, not least because protective tariffs can be useful.
European Union trade ministers have agreed they may retaliate if the US slaps import tariffs on steel and aluminum. The EU is reportedly drawing up a list of US products to target, including orange juice and bourbon.
Donald Trump may not always be aware of the consequences of what he says and does. But the debate he has triggered with his comments on free and fair trade could be helpful to bring about change, says DW's Henrik Böhme.
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