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PARIS: Commercial war with Washington is a reality
08:44 - 22/07/2018
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French Minister of Economy and Finance Bruno Lemerre confirmed that the trade war has started between the European Union and the United States, calling on them to abandon their tax duties on aluminum and steel.
"Everyone in the G-20 understands that a trade war is a reality," Lemerre told reporters on Saturday evening on the sidelines of a meeting of G20 finance ministers in the Argentine capital Buenos Aires.
"This trade war will only leave the losers, it will destroy jobs and pose a threat to global growth," Lemerre said.
He urged the US administration to take the first step towards dialogue with Europe, pointing out that the European Commission will not be able to make proposals to resolve the issue without it. "We call on the United States to return to common sense and respect the rules of the world and its allies."
"Global trade can not depend on forest law," he said. "It is unacceptable that Europeans are suffering because of US-imposed trade tariffs."
Lemerre pledged that the European Union would take countermeasures if the US authorities imposed a new charge on European goods and stressed that the EU would not negotiate free trade with the United States before it canceled taxes on aluminum and steel imports.
He said there was no disagreement between France and Germany on how and when to start trade negotiations with the United States.
Relations between Europe and the United States are strained as US authorities impose a tax on imports of steel by 25 percent and aluminum by 10 percent from EU countries and Canada.
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