The European Union has announced countermeasures worth up to $28 billion in response to U.S. tariffs on steel and aluminum, escalating transatlantic trade tensions.
The move comes after President Donald Trump’s 25% tariff on all steel and aluminum imports to the United States took effect Wednesday. Brussels has condemned the tariffs as “unjustified” and will impose its own levies on American exports, including boats, bourbon and motorcycles.
The measures, described by the European Commission as “swift and proportionate,” will take effect in April.
European Commission President Ursula von der Leyen said: “The trade relations between the European Union and the U.S. are the biggest in the world. They have brought prosperity and security to millions of people, and trade has created millions of jobs on both sides of the Atlantic.” She added, “As of this morning the United States is applying a 25% tariff on imports of steel and aluminum. We deeply regret this measure. Tariffs are taxes. They are bad for business, and even worse for consumers.”
Von der Leyen said the EU’s countermeasures would be rolled out in stages, beginning April 1 and fully in place by April 13.
She maintained that Brussels remained open to negotiations, saying: “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. We are ready to engage in meaningful dialogue.”
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