EU TO IMPOSE COUNTER TARIFFS ON $26 BILLION IN US GOODS – The counter-measures will start from next month
The European Union will impose counter-tariffs on 26 billion euros worth of U.S. goods from next month, the European Commission has said, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.
“The counter-measures we take today are strong but proportionate. As the United States are applying tariffs worth $28 billion, we are responding with counter-measures worth 26 billion euros,” European Commission chief Ursula von der Leyen told reporters. “The EU must act to protect its consumers and business.”
The European Commission said it will end its current suspension of tariffs on U.S. products on April 1 and that its tariffs will be fully in place by April 13. The suspended tariffs apply to products ranging from boats to bourbon to motorbikes, and the EU said it would now start a two-week consultation to pick other product categories.
U.S. President Donald Trump’s increased tariffs of 25% on all steel and aluminium imports took effect on Wednesday as prior exemptions, duty free quotas and product exclusions expired.
