Time is running out for the EU to secure continued exemptions from US tariffs on steel and aluminum imports.
US President Donald Trump has threatened new tariffs on Chinese imports, raising fears of an escalating trade war. Trump threatened further sanctions should China — which accuses the US of "blackmail" — retaliate.
American-German businessman Martin Richenhagen is far from happy about the Trump administration's aggressive trade policies. "We are surprised on a daily basis by strange initiatives," he told DW.
The International Monetary Fund criticized Trump's tariffs plans and warned of their negative impact. The IMF also said by 2020 US economic growth will dip to lower levels than the White House predicts.
The European Commission has announced that its answer to higher US tariffs on steel and aluminum will come as early as July. Brussels said it was finalizing the list of US exports to be affected by the countermeasure.
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