EU weighs retaliatory measures as US eyes steel tariffs

Markets Associated Press

The European Union's top trade official says the bloc is preparing retaliatory measures in case the United States goes ahead with plans to impose steel tariffs on imports.

Continue Reading Below

EU Trade Commissioner Cecilia Malmstroem said the bloc was "making preparations" to retaliate in the event the U.S. introduces new tariffs.

Malmstroem said Monday that the EU would study any action by Washington to see whether the move complies with the rules of the World Trade Association, the body that oversees global trade.

She added that the indications are that the EU "would be unjustifiably hit."

One reason why Donald Trump became president was his promise to revive American steel. That helped him win states like Pennsylvania.