US metals tariffs due to take effect – Saudi Arabia bidding to become a tourism hotspot
In the wake of US tariffs on steel and aluminum, the EU has made several counter moves and has now raised tariffs of its own on steel imports which exceed quotas based on current levels.
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 EU doesn't want to just put up with Donald Trump's higher import tariffs and is mulling retaliatory measures. But German firms, in particular, fear that no one would profit from an escalation of the situation.
Punitive tariffs! Trade war! Dissonant bells are ringing from both sides of the Atlantic. Despite the hullabaloo, Trump's tariffs will neither save the US steel industry nor sink that of Europe, says DW's Henrik Böhme.
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