Prodi says US steel import tariffs unfair

The European Commission president has said US steel tariffs are unfair because US steelmakers have lacked the innovation to compete with their products for 50 years.

At a press conference, Mr Romano Prodi said: "All the innovations in the steel industry in the post-war period were either European or Japanese. The Americans in this sector simply slept".

Earlier this week, the United States urged the European Union to abandon plans to retaliate against US tariffs imposed on European and Japanese steel imports, saying such action would be against world trade rules.

But Mr Prodi insists the commission's consideration of what he called "re-balancing measures" is in conformity with World Trade Organization rules.

AFP