Trade tariffs: EU, Japan plan against U.S.

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Trump with VP pence
Trump signing the sweeping tariffs, which could trigger global trade war

Trade chiefs from countries of the European Union (EU) and Japan are holding talks concerning the decision by U.S. President Donald Trump to impose tariffs on steel and aluminum.

 

The meeting has been scheduled amid fears the tariffs could elicit trade war between U.S. and its allies.

 

EU Trade Commissioner Cecilia Malmstroem is meeting Saturday in Brussels with Japanese Economy, Trade and Industry Minister Hiroshige Seko.

U.S. trade representative Robert Lighthizer is expected to join the two for broader talks later Saturday.

The EU is seeking clarity from Washington about whether the 28-nation bloc will be exempted from the U.S. tariffs, just like it did to Canada and Mexico.

If not, the EU has threatened retaliatory tariffs on U.S. products.

Key U.S. trading partners and businesses have warned the tariffs could backfire, provoking a trade war and hurting allies more than China, their main target.

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