The European Union will impose counter tariffs on 26 billion euros ($28.33 billion) worth of US goods from next month in response to US tariffs on steel and aluminium, the European Commission said in a statement on Wednesday.
The commission said it will end the current suspension of tariffs on US products on April 1 and will also put forward a new package of countermeasures on US goods by mid-April.
“This matches the economic scope of the US tariffs. Our countermeasures will be introduced in two steps. Starting with 1 April and fully in place as of 13 April,” Ursula von der Leyen, president of the European Commission, said in a statement. “We are ready to engage in meaningful dialogue.
EU ministers to discuss joint borrowing for defence, use of existing funds
I have entrusted Trade Commissioner Maros Sefcovic to resume his talks to explore better solutions with the US,“ von der Leyen added.
US President Donald Trump’s increased tariffs of 25% on steel and aluminium imports took effect on Wednesday as prior exemptions, duty free quotas and product exclusions expired.
Comments
Comments are closed for this article.