US-EU Trade Tensions: Metals tariff deadline looms for EU

World
Europe

01:30

The showdown with the EU comes just a day after the US reopened a trade battle with China. Owen Fairclough reports.

It's the Organisation for Economic Cooperation and Development. Perhaps non-cooperation is more appropriate for the current state of transatlantic trade relations. The U.S. Commerce Secretary addressed the Paris-based forum as his country prepares to impose tariffs on aluminium and steel on European exporters. No big deal, he seemed to suggest.

WILBUR ROSS US COMMERCE SECRETARY "The sky has not fallen in the United State since we put the tariffs on. It just hasn't fallen and it won't because of the proportionality that I'm describing is just too small. The whole amount of tariffs on steel and aluminum are a fraction of one percent of the U.S. GDP. So, how much impact can that have on anything It's just silly."

BRUNO LE MAIRE FRENCH MINISTER OF THE ECONOMY AND FINANCE "We do not want a trade war. We want the development of free trade throughout the planet. But if we're attacked, we will have to defend our interests."

That's likely to mean retaliatory tariffs on iconic U.S. exports-from denim jeans to Bourbon whiskey.

OWEN FAIRCLOUGH WASHINGTON "US President Donald Trump initially delayed imposing the tariffs pending negotiations. But without any breakthrough the duties are expected to take effect on June 1st. Owen Fairclough, CGTN."