An hour after the US increased tariffs on steel and aluminium (see EUROPE B13577A1) came into force, the European Commission announced, on Wednesday 12 March, that it was taking countermeasures, which will come into force at the beginning of April.
The EU institution has firstly decided to reinstate the tariffs decided in 2018 and 2020, which had been suspended until 31 March. As these are well below the economic volume of the new US measures, it is expected to adopt a second wave of...