Surtax: Trump resumes protectionist standoff over steel

A major disappointment after yet another escalation. The European Commission declared on Saturday, May 31, that it "deeply regretted the increase in US tariffs on steel imports from 25% to 50%," announced the day before by Donald Trump. It also said it was ready to impose countermeasures that could take effect on July 14 if no outcome to the negotiations is reached by then.

"This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic," the spokesperson said, adding that "the increase in tariffs also undermines ongoing efforts to reach a negotiated solution."

Friday, from a steel mill of the giant