Trade Row Between EU, US Put Economic Growth in Jeopardy - Italian Minister

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US-EU - Sputnik International
Disagreements over trade issues between the United States and the European Union may pose a threat to economic development and growth, Italy’s Minister of Economic Development Carlo Calenda said on Friday.

ROME, March 31 (Sputnik) — The bilateral trade relations between the United States and Europe were shattered after US President Donald Trump assumed office and announced a U-turn toward bilateral deals, thus calling the US-EU Transatlantic Trade and Investment Partnership (TTIP) into question.

"Any trade disagreement between the United States and Europe is dangerous not only for our economies and the processes of managing globalization," Calenda said at a business summit in Rome, adding that the measures that divide the parties should be avoided.

The picture shows red hot steel being flattened in the hot rolling plant at the ThyssenKrupp steel mill Hamborn pictured on December 12, 2014 in Duisburg , western Germany - Sputnik International
German Foreign Minister Urges EU to Sue US Over ‘Unfair’ Dumping Duties on Steel
Calenda noted that the consequences of the implementation of such measures might be the "opposite," however, it would hardly lead to a trade war, which would not be beneficial to anyone.

On Thursday, the US Department of Commerce established that imports by two German steel companies had been dumping steel plates in the US market and calculated higher duty rates for them, as well as for firms from Austria, Belgium, France and Italy. In response, German Foreign Minister Sigmar Gabriel asked EU authorities earlier on Friday to consider filing a lawsuit with the World Trade Organization (WTO) over the US’s "unfair" anti-dumping measures.

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