EU Says One-Month Tariff Extension Is Not Enough, Bad For Business

BRUSSELS, BELGIUM - (ARCHIVE) : A file photo dated on January 15, 2018 shows the European Union flags waving in Brussels, Belgium. (Photo by Dursun Aydemir/Anadolu Agency/Getty Images)
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May 1, 2018 6:33 a.m.

WASHINGTON (AP) — The European Union says the decision by the U.S. administration to grant a one-month tariff extension on EU imports of steel and aluminum is bad for business and that the bloc should be granted a permanent exemption.

The 28-nation EU said the U.S. decision “prolongs market uncertainty, which is already affecting business decisions.”

The U.S. announcement only postpones for a month a potential trans-Atlantic trade war since the EU has already said it will retaliate if the Trump administration imposes the tariffs.

“As a longstanding partner and friend of the US, we will not negotiate under threat,” the EU said, adding that a trans-Atlantic agreement “has to be balanced and mutually beneficial.”

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