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American business in Europe remains opposed to US steel and aluminium tariffs
Earlier this week, President Trump announced his decision to impose 25% tariffs on all US steel and aluminium imports, which will target the EU directly. This is a decision that the American Chamber of Commerce to the EU (AmCham EU) opposed in 2018 and opposes again today. US tariffs on EU imports of steel and aluminium will have a wide-reaching and overwhelmingly negative impact on jobs, prosperity and security on both sides of the Atlantic. The damage will extend beyond just the steel and aluminium sectors, impacting all businesses that rely on these materials throughout the supply chain.
The EU is not a national security threat to the US. Rather, it is America’s most important economic partner. The EU should be permanently exempt from the tariffs, and the two sides should work together to tackle the real issue at hand: global overcapacity caused by unfair trading practices in third countries. Common challenges like this are best addressed through cooperation.
American companies in Europe are concerned about the trade dispute escalating rapidly, with the EU’s intent to impose countermeasures against the US. We call on both sides to urgently seek a negotiated solution and avoid a negative spiral of tariffs that would only hurt both economies.