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EU replies to Trump imposing tariffs
(MENAFN) The European Commission has announced countermeasures in response to US President Donald Trump’s latest tariffs on EU imports, escalating trade tensions between Washington and Brussels.
Trump’s 25% tariff increase on steel and aluminum imports from the EU took effect on Wednesday, following the expiration of previous exemptions and duty-free quotas.
In a press release, the European Commission condemned the move as “unjustified” and warned of its potential economic impact. The EU’s executive body vowed to implement counter-tariffs on €26 billion (over $28 billion) worth of American goods starting in April.
“Tariffs are taxes, they are bad…” European Commission President Ursula von der Leyen stated, emphasizing the negative consequences of trade restrictions.
The EU’s retaliatory measures will target a wide range of US exports, including industrial-grade steel, aluminum, semi-finished and finished metal products, and various commercial goods such as machinery parts and knitting needles.
This latest escalation follows Trump’s broader trade policy, which includes a planned 25% tariff on all EU imports. The US president has claimed the bloc was designed to take advantage of America, and his measures are aimed at correcting what he calls an unfair trade imbalance. Bloomberg reported that the new tariffs could significantly impact the European economy, particularly its auto industry.
A similar trade conflict erupted during Trump’s first term when he imposed tariffs on European steel and aluminum, prompting EU countermeasures. While Trump also threatened tariffs on European cars at the time, they were never implemented. The previous trade dispute resulted in both sides imposing duties on goods worth over $10 billion.
Trump’s 25% tariff increase on steel and aluminum imports from the EU took effect on Wednesday, following the expiration of previous exemptions and duty-free quotas.
In a press release, the European Commission condemned the move as “unjustified” and warned of its potential economic impact. The EU’s executive body vowed to implement counter-tariffs on €26 billion (over $28 billion) worth of American goods starting in April.
“Tariffs are taxes, they are bad…” European Commission President Ursula von der Leyen stated, emphasizing the negative consequences of trade restrictions.
The EU’s retaliatory measures will target a wide range of US exports, including industrial-grade steel, aluminum, semi-finished and finished metal products, and various commercial goods such as machinery parts and knitting needles.
This latest escalation follows Trump’s broader trade policy, which includes a planned 25% tariff on all EU imports. The US president has claimed the bloc was designed to take advantage of America, and his measures are aimed at correcting what he calls an unfair trade imbalance. Bloomberg reported that the new tariffs could significantly impact the European economy, particularly its auto industry.
A similar trade conflict erupted during Trump’s first term when he imposed tariffs on European steel and aluminum, prompting EU countermeasures. While Trump also threatened tariffs on European cars at the time, they were never implemented. The previous trade dispute resulted in both sides imposing duties on goods worth over $10 billion.
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