EU Strikes Back: Counter Tariffs Target U.S. Goods

The EU plans to impose counter tariffs on €26 billion of U.S. goods in retaliation to U.S. tariffs on steel and aluminium. The measures, set to begin April 1, aim to balance trade impacted by the U.S. duties. Discussions with the U.S. on alternative solutions continue.

The European Union is poised to impose counter tariffs on €26 billion ($28 billion) worth of U.S. goods, marking a new escalation in the global trade war. This move comes in response to sweeping U.S. tariffs on steel and aluminium, as reported by the European Commission.

U.S. President Donald Trump's decision to increase tariffs by 25% on all steel and aluminium imports was enacted as previous exemptions expired. Consequently, the EU will lift its current suspension on tariffs targeting U.S. products from April 1, along with announcing a fresh set of countermeasures by mid-April.

The EU's counter tariffs will affect a spectrum of American products, from industrial to agricultural, including textiles and home appliances. European Commission President Ursula von der Leyen emphasized that dialogue remains open, as Trade Commissioner Maros Sefcovic prepares to resume talks with the U.S.

(With inputs from agencies.)