The US is expected to impose tariffs on European Union steel and aluminium imports on Thursday, setting the scene for a trade war. Sources say an announcement was planned for Thursday morning but could be delayed until after the markets close. It comes a day before an exemption to the planned tariffs is due to expire. The European Commission says it will retaliate with duties on U.S. exports, including denim jeans, drinks, and peanut butter. President Donald Trump imposed a 25 per cent tariff on steel imports and a 10 per cent tariff on aluminium in March, but granted temporary exemptions to the EU and five other countries. French Finance Minister Bruno Le Maire told U.S. Commerce Secretary Wilbur Ross on Thursday that U.S. tariffs would be unjustified and dangerous for growth and free trade. "It's entirely up to U.S. authorities whether they want to enter into a trade conflict with their biggest partner, Europe," Le Maire told reporters after meeting Ross in Paris. Le Maire repeated that the EU would take "all necessary measures" to respond if the United States decided to impose tariffs.
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