U.S. House of Representatives Speaker Paul Ryan said on Thursday that he did not agree with broad-based, across-the-board tariffs because it will have a lot of unintended consequences. According to European Financial Affairs Commissioner Pierre Moscovici, Europe wants to avoid trade issues with the US over its plans to impose tariffs on steel and aluminum, but is preparing immediate counter-measures just in case.
The U.S. leader's proposal for a 25 percent tariff on steel imports and 10 percent on aluminum has recently rattled global markets and organizations.
