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Trump’s Tariffs Face EU Backlash & Hong Kong’s WTO Challenge

Trump’s Tariffs Face EU Backlash & Hong Kong’s WTO Challenge

Business Today
Business Today
  • New Delhi,
  • Feb 11, 2025,
  • Updated Feb 11, 2025, 6:44 PM IST

 

U.S. President Donald Trump substantially raised tariffs on steel and aluminium imports on Monday, February 10, to a flat 25% "without exceptions or exemptions. European Union Trade Commissioner Maros Sefcovic warned that these tariffs could drive inflation and harm global trade, calling them a "lose-lose scenario." EU leaders, including Ursula von der Leyen, have vowed strong countermeasures against what they call an "unjustified" move by the US. Meanwhile, Hong Kong plans to challenge the US tariffs at the World Trade Organization. Chief Secretary Eric Chan criticized Washington for ignoring Hong Kong's status as a separate customs territory and accused the US of violating WTO rules. 

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