BERLIN, June 1, 2018 /PRNewswire/ --
BDI President Dieter Kempf comments about the US customs on aluminium and steel: The EU has the international law on its side
- US-President Trump risks a setback of the transatlantic partnership for many decades with the customs dispute he initiated. His uncompromising action is short-sighted and self-destructive.
- "Make America Great Again" does not work with protectionism. Trump puts supply chains at risk, endangers a lot of jobs in the manufacturing industries and raises the prices of products for American citizens. Trump's protectionism will not make the American steel- and aluminium industry, which he wants to save, more competitive.
- The EU must react cool-headed. The Union should carefully consider their announced countervailing duties. The EU-Commission has a range of instruments and options at its disposal to react effectively against this confrontation. The world's largest economic zone has the international law on its side. That is why a WTO dispute settlement panel should be established, if the ongoing consultations are without a result.
- The primary objective should remain, that the US revokes its import restrictions on steel and aluminium. It is good, that protective measures for the steel industry are being assessed.
The Federation of German Industries (BDI) is the umbrella organization of German industry and industry-related services. It speaks for 35 trade associations and more than 100,000 enterprises with around 8 million employees. Membership is voluntary. 15 organizations in the regional states represent the interests of industry at the regional level.
The Federation of German Industries
Member association of BUSINESSEUROPE
SOURCE The Federation of German Industries (BDI)