European Union says its countermeasures to U.S. President Donald Trump’s tariffs will go into effect on April 1, 2025
The Hindu
EU retaliates with tariffs after US increases steel and aluminum tariffs, impacting various industries and risking millions of jobs.
The European Union (EU) on Wednesday (March 12, 2024) announced retaliatory trade action after the Donald Trump administration officially increased tariffs on all steel and aluminum imports to 25%, with duties on industrial and agricultural products that will go into effect April 1, 2025.
“As the U.S. are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros ($28 billion),” European Commission President Ursula von der Leyen said in a statement.
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The commission manages trade and commercial conflicts on behalf of the 27 member countries.
“We will always remain open to negotiation. We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs,” Ms. von der Leyen said.
The Commission also said steel and aluminum products would be hit in return, but also textiles, leather goods, home appliances, house tools plastics and wood. Agricultural products will also be impacted — including poultry, beef, some seafood, nuts, eggs, sugar and vegetables.
President Donald Trump said his taxes would help create U.S. factory jobs, but Ms. von der Leyen said: “Jobs are at stake. Prices will go up. In Europe and in the United States.”
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