Europe Hits Back as Trump’s Metals Tariffs Take Effect
Key Points
- On Wednesday, the European Union fought back with a retaliatory countermeasure as 25% tariffs on all steel and aluminum imports were in effect.
- The European Commission, the European Union’s law enforcement agency, said its tariffs would apply to U.S. goods worth up to 26 billion euros ($28.4 billion) and cover a range of products including ships, bourbons and motorcycles.
- The EU’s move is the latest in a growing tariff trade war between the United States and its major trading partners, including China, Canada and Mexico.
this EU (EU) fought back on Wednesday with a retaliatory countermeasures as 25% tariffs on all steel and aluminum were imported to the United States Take effect.
The European Commission, the European Union’s law enforcement agency, said its tariffs would apply to U.S. goods worth up to 26 billion euros ($28.4 billion) and cover a range of products including ships, bourbons and motorcycles. After consultation with “Member States and Stakeholders”, the second set of countermeasures will take effect on April 1.
“As the United States is applying for a tariff of $28 billion, we are responding with a countermeasure worth 26 billion euros,” said European Commission President Ursula von der Leyen. “This matches the economic scope of the U.S. tariffs.”
Tariffs are the latest in a growing trade war between the United States and its major trading partners, characterized by a series of back and forth Policy – Including delays in two days of 25% tariffs on Canada and Mexico. Trump reportedly withdrew his threat to Canadian goods tariffs Tuesday after Ontario withdrew its plan to impose a 25% export tax on electricity.
Trump has it too ensure arrive Expand trade measures on April 2 By imposing “reciprocity” tariffs on other countries that have taxed U.S. products, and Already doubled Tariffs for imports from China.