EU to Retaliate with Tariffs on $28 Billion Worth of U.S. Goods

BRUSSELS: The European Union will impose counter tariffs worth 26 billion euros ($28 billion) on U.S. goods next month.
This move follows the U.S. decision to raise tariffs on steel and aluminium imports by 25%.
The EU will lift its suspension of tariffs on U.S. products starting April 1.
By April 13, the EU tariffs will be fully implemented on selected American goods.
European Commission President Ursula von der Leyen says the response is necessary but measured.

EU Stance on Tariffs

She emphasized that higher tariffs are not in anyone’s interest but the EU must act.
The EU aims to protect its businesses and consumers from the impact of U.S. tariffs.
The countermeasures will cover around 18 billion euros in goods.
The new tariffs will be equivalent to the impact of U.S. trade restrictions.
The EU will launch a two-week consultation to determine additional products for tariffs.

Targeted Products

The affected products include industrial, agricultural, and consumer goods.
Among the items are steel, aluminium, textiles, plastics, and home appliances.
Food products like poultry, beef, eggs, dairy, sugar, and vegetables will also face tariffs.
Other targeted goods include motorbikes, bourbon, and boats.
The selection aims to match the total trade value affected by U.S. tariffs.

Open to Negotiation

Despite its decision, the EU remains open to trade discussions with the U.S.
Von der Leyen stated that economic conflicts do not serve mutual interests.
She urged for a constructive dialogue between both parties to find a resolution.
The EU is willing to engage in talks to reduce economic tensions.
However, it will proceed with its countermeasures if no agreement is reached.

Impact on Trade

The U.S. imposed the 25% tariff after ending exemptions and duty-free quotas.
This has escalated tensions between two of the world’s largest economies.
The EU’s response aligns with global reactions to U.S. trade policies.
European businesses and industries will feel the impact of these new trade barriers.
Both sides now face economic strain due to the ongoing tariff dispute.

Future Actions

The EU will continue assessing the situation based on U.S. policy changes.
Further tariff measures could be considered if no trade resolution is reached.
The European Commission remains committed to defending EU interests.
It urges the U.S. to reconsider its trade stance to avoid further disruptions.
Negotiations may determine if a compromise is possible before full tariffs take effect.