BRUSSELS, May 31. /TASS/. Washington’s decision to double steel tariffs will add uncertainty to the global economy and undermine talks with the EU aimed at avoiding a trade war, the European Commission press service stated.

"We strongly regret the announced increase of US tariffs on steel imports from 25% to 50%. This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic," the statement reads, adding that "the tariff increase also undermines ongoing efforts to reach a negotiated solution".

In a Friday Truth Social post, US President Donald Trump announced plans "to raise the tariffs on steel and aluminum from 25% to 50%, effective Wednesday, June 4." The European Commission said earlier that US tariffs currently impacted 70% of the European Union’s exports to the United States.