ECSA Concerned About Proposed US Steel and Aluminium Tariffs

European shipowners 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,” Martin Dorsman, European Community Shipowners’ Association (ECSA) Secretary General, commented.

“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.

Shipping is the backbone of global trade, enabling the import and export of affordable goods on a scale that is not possible for any other transport mode. Shipping needs global trade to exist and global trade cannot exist without an efficient shipping industry. Around 90% of world trade in goods is carried by the international shipping industry and EU shipping companies are large players in this global industry, according to ECSA.

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.

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

Share this article

Follow World Maritime News

Posted on March 14, 2018 with tags .

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Defence Safety Conference 2019

The Defence Safety Conference returns to London this October as the only event solely dedicated to enhancing safety across all aspects of defence.

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >