Brussels (Eurotoday) – European Commission President Ursula von der Leyen has announced a package of countermeasures in response to the new US tariffs on steel and aluminium imports. The countermeasures, aimed at US exports, follow the Trump administration’s decision to raise tariffs on all steel and aluminum imports to 25 per cent.
The European Union’s countermeasures, amounting to 26 billion euros, are designed to match the $28 billion tariffs imposed by the US. These measures, which will take effect on April 1, include duties not only on steel and aluminium but also on industrial and agricultural products.
Approximately a month ago, US President Donald Trump introduced a 25% tariff on imports of steel, aluminium, and related derivative products, affecting around €26 billion worth of EU exports.
What did Ursula von der Leyen say about the tariffs?
“As the US are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros,”
Von der Leyen stated.
“We will always remain open to negotiation. We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs,”
She added.
“We deeply regret this measure. Tariffs are taxes. They are bad for business, and even worse for consumers. These tariffs are disrupting supply chains. They bring uncertainty for the economy,”
Von der Leyen emphasized.
Which US exports will be affected by EU tariffs?
The European Commission confirmed that the countermeasures would impact steel and aluminum products, as well as leather goods, textiles, home appliances, wood and house tools, and plastic. Agricultural products such as poultry, nuts, beef, some seafood, eggs, sugar, and vegetables will also be affected.
When will the EU’s countermeasures take effect?
According to reports, the EU’s response will be implemented in two stages. On April 1, the EU will allow the suspension of existing 2018 and 2020 countermeasures against the US to lapse.
These measures previously targeted American products, including boats, bourbon, and Harley-Davidson motorbikes, causing economic disruptions estimated at €8 billion.
By the end of April, the EU will introduce a fresh round of countermeasures in response to the latest US tariffs. The new tariffs are expected to affect US exports valued at up to €18 billion, bringing the total EU response to €26 billion, matching the total American tariffs.
Comments
One response to “EU Implements Retaliatory Measures Against US Steel and Aluminum Tariffs”
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Seems like Ursula’s just polishing her “retaliation” skills—next up, she’ll be writing a cookbook on how to make a meal out of tariffs! 🍽️ Bon appétit, America! 😏
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Oh joy, nothing like a good ol’ tariff tit-for-tat to spice up international relations, eh? 🥳 Can’t wait for the next round of “who can raise the stakes higher” – seems like a real winner for all of us consumers! 🍻
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