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European shipowners concerned with the new US policy on tariffs

Brussels - The European Community Shipowners’ Association disagree with the US President Trump’s decision to impose additional duties on imports of certain steel and aluminium products into the United States. European shipowners control 40% of the world’s merchant fleet

Brussels - The European Community Shipowners’ Association 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, 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 control 40% of the world’s merchant fleet and operate shipping services all over the world. This includes trade between non EU countries such as trade between the Far East and Latin America, so called “cross trades”. For many shipping companies the majority of their trade activity actually happens outside of the EU.

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