EU Announces Countermeasures Against US Tariffs Amid Rising Trade Tensions
European Commission to impose tariffs on $28 billion worth of American goods starting April 1, 2023.
The European Union (EU) has declared it will implement countermeasures in the form of tariffs on American products valued at €26 billion (approximately $28 billion), starting on April 1, 2023. Ursula von der Leyen, President of the European Commission, made the announcement in response to the introduction of tariffs on steel and aluminum imports to the United States, ordered by President Donald Trump, which took effect today.
Reuters reports that these tariffs, set at 25%, are expected to exacerbate an ongoing global trade conflict.
An unnamed EU official stated that Brussels remains open to negotiations, asserting that high tariffs are not beneficial to any party involved.
The European Commission indicated that the countermeasures would come into force on April 1, with full implementation starting on April 13. Von der Leyen emphasized that the EU's measures are both strong and proportional, stating, "As the US imposes tariffs worth $28 billion, we respond with countermeasures valued at €26 billion.
The EU must protect its consumers and businesses."
The EU's countermeasures will target a variety of American products, ranging from boats to whiskey and motorcycles.
Brussels announced that a two-week consultation period will commence during which additional categories of US goods subject to tariffs will be determined, with an estimated value of around €18 billion.
Von der Leyen reiterated the EU's openness to dialogue, emphasizing the need for cooperative trade practices.
The measures come on the heels of EU officials expressing frustration over Trump's tariffs, with a representative from the European steel industry commenting that the EU intends to wield a "hammer" in response to the US's actions.
The EU, as a unified market comprising 450 million consumers, aims to convey a strong message of readiness to defend its economic interests in the face of increasing trade tensions initiated by the Trump administration.
Reuters reports that these tariffs, set at 25%, are expected to exacerbate an ongoing global trade conflict.
An unnamed EU official stated that Brussels remains open to negotiations, asserting that high tariffs are not beneficial to any party involved.
The European Commission indicated that the countermeasures would come into force on April 1, with full implementation starting on April 13. Von der Leyen emphasized that the EU's measures are both strong and proportional, stating, "As the US imposes tariffs worth $28 billion, we respond with countermeasures valued at €26 billion.
The EU must protect its consumers and businesses."
The EU's countermeasures will target a variety of American products, ranging from boats to whiskey and motorcycles.
Brussels announced that a two-week consultation period will commence during which additional categories of US goods subject to tariffs will be determined, with an estimated value of around €18 billion.
Von der Leyen reiterated the EU's openness to dialogue, emphasizing the need for cooperative trade practices.
The measures come on the heels of EU officials expressing frustration over Trump's tariffs, with a representative from the European steel industry commenting that the EU intends to wield a "hammer" in response to the US's actions.
The EU, as a unified market comprising 450 million consumers, aims to convey a strong message of readiness to defend its economic interests in the face of increasing trade tensions initiated by the Trump administration.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
