Europe Strikes Back: Counter-Tariffs Proposed Against U.S. Goods

The European Commission has announced a proposal to impose counter-tariffs of 25% on U.S. goods in response to tariffs on steel and aluminum initiated by President Trump. The targeted tariffs are set to begin on May 16, with others coming into effect on December 1. Bourbon has been excluded from the final list.

The European Commission is preparing to implement a set of counter-tariffs at a rate of 25% on various U.S. goods in retaliation for American tariffs on steel and aluminum. This move marks the latest development in an escalating trade dispute, as confirmed by a document obtained by Reuters.

According to the document, the planned counter-tariffs will be phased in over two periods: one beginning on May 16 and another slated for December 1. The European Commission aims to apply pressure by targeting these tariffs strategically on U.S. exports.

Notably, bourbon has been taken off the initial list of items considered for tariffs in March. This decision reflects the Commission's strategic adjustments in tit-for-tat responses, aiming to minimize adverse impacts while asserting trade positions.

(With inputs from agencies.)