EU ready to retaliate against U.S. steel tariffs

The European Union (EU) on Friday notified to the World Trade Organization a list of U.S. products on which the bloc may in the future apply extra import duties in retaliation against U.S. tariff measures on steel and aluminium.

"This would be to compensate in an equivalent manner for the impact of the US tariff measures on steel and aluminium, which the EU considers to be safeguard measures in effect, should they enter into force," the EU said in a statement.

This notification, the bloc said, does not result in any immediate imposition of additional duties on imports from the United States.

"Should the EU decide to go ahead with the additional import duties, this step would be taken in full compliance with the rules under the WTO Safeguard Agreement," the statement added.