The European Union has announced retaliatory tariffs amounting to €26 billion in response to the United States' decision to impose a 25% levy on all steel and aluminium imports.
The countermeasures, set to take effect on 1 April, mark a significant escalation in the ongoing trade tensions between Brussels and Washington, reports the AP.
European Commission President Ursula von der Leyen, in a statement on Wednesday (12 March), justified the move, asserting that the EU’s response is proportional.
“As the US is applying tariffs worth $28 billion, we are responding with countermeasures worth €26 billion ($28 billion),” she stated.
The European Commission, which handles trade disputes on behalf of the 27-member bloc, confirmed that a broad spectrum of American exports would be targeted.
“We will always remain open to negotiation,” von der Leyen added.
“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.”
The EU’s countermeasures will primarily target steel and aluminium products but will also extend to a range of consumer and industrial goods.
Among the affected sectors are textiles, leather products, home appliances, household tools, plastics, and wood.
Additionally, a selection of agricultural commodities—including poultry, beef, certain seafood, nuts, eggs, sugar, and vegetables—will also be subject to the new levies.
The tit-for-tat tariff impositions underline the deepening rift in transatlantic trade relations and add further uncertainty to the global economic landscape.
