**US Imposes Tariffs on Steel and Aluminum Imports**
On February 10, US President Donald Trump signed an executive order imposing a 25% tariff on all steel and aluminum imports. This move will affect countries that export these metals to the US.
**Ukraine‘s Economy Affected**
Steel production is a major sector in Ukraine’s economy. First Deputy Prime Minister Yulia Svyrydenko said that Ukrainian steel was previously exempt from the 25% tariff limit, but it seems this is no longer the case. She stated that the decision will naturally affect Ukraine’s steel industry.
**Global Trade Conflict Looms**
The EU had previously vowed to take retaliatory measures against unjustified trade practices. European Commission President Ursula von der Leyen reacted strongly to Trump‘s executive order, saying that “unjustified tariffs on the EU will not go unanswered.” She added that “tariffs are taxes – bad for business, worse for consumers.”
**A Long-Standing Dispute**
The dispute over steel and aluminum tariffs has been ongoing since 2018. The US imposed duties on European exports, citing national security concerns. The EU retaliated with its own tariffs on US goods. A temporary truce was reached in 2021, but Trump’s new tariffs threaten to reignite the trade conflict.
**A Threat to Global Trade**
The European Commission argued that such restrictions would disrupt supply chains between the EU and the US, raising costs and harming trade between both regions. The move is likely to have far-reaching consequences for global trade and economies.
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