The European Commission “must act to protect consumers," its president said.
Trump's dismisses Wall Street alarm over his trade warPresident Trump says he’s not concerned about volatility in the markets as stocks post another day of losses in the midst of his tariff onslaught. New tariffs on steel and aluminum begin Wednesday.
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LONDON -- The European Union responded on Wednesday to the Trump administration's steel tariffs, saying member states would place countermeasures on some 26 billion euros, or about $28 billion, worth of U.S. goods.
Ursula von der Leyen, president of the European Commission, said in a statement that the EU "must act to protect consumers and business."
"Tariffs are taxes. They are bad for business, and even worse for consumers," von der Leyen said. "These tariffs are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake. Prices will go up. In Europe and in the United States."
MORE: US imposes 25% tariffs on steel, aluminum imports
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