Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

European shipowners warn on full-scale trade war

0b55b61751f09a737a32c2914e923f9c
The European Community Shipowners Association (ECSA) has warned over planned US steel and aluminium tariffs saying a full scale trade war will benefit nobody.

In line with US President Donald Trump’s election promises to protect US jobs the US is planning to impose a 25% duty on steel imports and 10% on aluminium.

“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, ECSA’s secretary general.

“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.

European shipowners own 40% of the world’s fleet and many do the majority of their trading outside of Europe.

“European shipowners call US and the counterparts to respect the principles of free trade and prevent a full scale trade war,” he said.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish