Economy
US tariffs could have 'grave' consequences, warns Irish MEP
Controversial new US tariffs on European businesses could have “grave” consequences, according to a senior Irish MEP.
The warning from Barry Cowen, a Renew Europe group member, came after President Donald Trump announced a 25pc levy on vehicles not made in the US.
The move is seen as a serious blow to auto industry in the EU. It also mark a major new escalation in his global trade war.
Speaking to this website Cowen cautioned against any escalation, including on the economic front, in the currently tense relations between the US and EU.
This presented, he said, a “huge challenge” but it was important that a “strong transatlantic relationship” was maintained.
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