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The European Union has announced retaliation plans in response to President Donald Trump’s 25% steel and aluminum tariffs.
A European Commission press release declares that EU retaliatory actions could apply to American exports worth up to €26 billion ($28 billion).
European Commission President Ursula von der Leyen spoke against tariffs, but said that the move was a “proportionate” response to the U.S.
The European Commission on Wednesday announced plans to retaliate against President Donald Trump’s tariffs on steel and aluminum. (Getty Images)
“Tariffs are taxes. They are bad for business, and worse for consumers,” she said. “The European Union must act to protect consumers and business. The countermeasures we take today are strong but proportionate. As the United States are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth €26 billion.”
The EU’s retaliation is slated to come in two parts.
“First, the Commission will allow the suspension of existing 2018 and 2020 countermeasures against the US to lapse on 1 April. These countermeasures target a range of US products that respond to the economic harm done on €8 billion of EU steel and aluminium exports,” the European Commission press release notes.
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“Second, in response to new US tariffs affecting more than €18 billion of EU exports, the Commission is putting forward a package of new countermeasures on US exports. They will come into force by mid-April, following consultation of Member States and stakeholders.”
The European Commission published a list of goods that could be subject to possible measures.
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The extensive list includes various food items like meats, dairy products, fruits and spices, as well as various non-food items.
