EU Strikes Back: Counter Tariffs on U.S. Imports Announced

The European Union has announced plans to impose counter tariffs on U.S. goods worth 26 billion euros, beginning next month. This move is a response to U.S. tariffs on steel and aluminum, as outlined by the European Commission in their recent statement.

The European Union is set to impose significant counter tariffs on 26 billion euros worth of U.S. goods starting next month. This decision comes in response to the recently enacted U.S. tariffs targeting steel and aluminum imports, the European Commission announced on Wednesday.

The announcement from the EU will escalate trade tensions between the two major economies as they engage in tit-for-tat tariff exchanges. The measures aim to address and retaliate against unfair trade practices initiated by the U.S. as per the EU's perspective.

The implementation of these counter tariffs could impact a wide array of U.S. goods entering the European market, thereby potentially affecting trade relations and economic dynamics on both sides of the Atlantic.

(With inputs from agencies.)