EU is ready to hit back at US in steel tariff row

http://www.gulf-daily-news.com/Articles.asp?Article=67328&Sn=BUSI


Global trade tensions simmered yesterday as the EU stood firm on threats to slap sanctions on US goods over steel and export tax break disputes and Norway warned of retaliation against Washington.

In a week when a US decision to cap imports of Chinese clothing sent the dollar tumbling, Italy's finance minister said Europe might have to follow the US in imposing tariffs on China.

The European Union is threatening sanctions on up to $6 billion of US goods in a transatlantic trade row, and EU Trade Commissioner Pascal Lamy said the 15-nation bloc was prepared to hit back at the US.

"Retaliation is the last resort that the system provides, the final tool that can be used to incentivise compliance," Lamy said.

Let's see our economy grow with this being thrown much less recover. The worst part is that the EU has every right to do it.

Good part though is that thy're aiming to hit the swing state, which bodes well for Demo. canidates