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00:00As of this morning, the United States is applying a 25% tariff on imports of steel and aluminum.
00:14We deeply regret this measure. Tariffs are taxes, they are bad for business and worse for consumers.
00:24They are disrupting supply chains, they bring uncertainty for the economy, jobs are at stake, prices are up.
00:33Nobody needs that on both sides, neither in the European Union nor in the United States.
00:40Our countermeasures will be introduced in two steps, starting with April 1st and fully in place as of April 13th.
00:50In the meantime, we will always remain open to negotiations.
00:55We firmly believe that in a world fraught with geoeconomic and political uncertainties,
01:04it is not in our common interest to burden our economies with such tariffs.