European shipowners have said they disagree with the US President Trump’s decision to impose additional duties on imports of certain steel and aluminium products into the United States.
“This protectionist decision of imposing 25% import duties on steel and 10% on aluminium will obviously have a negative impact on transatlantic relations and on global markets”, said Martin Dorsman, secretary general of the European Community Shipowners Association (ECSA). “The European shipping community is concerned with this development and the potential of full-scale trade war. It is clear that the tariffs might leverage to other products as we have already heard from the EU leaders’ responses. A full scale trade war will benefit nobody”, he added.
In a release ECSA stated: “Shipping needs global trade to exist and global trade cannot exist without an efficient shipping industry.”
Concluding, Dorsman said: “European shipowners call US and the counterparts to respect the principles of free trade and prevent a full scale trade war.”