The European Union announced it will impose €26 billion ($28 billion) in counter tariffs on U.S. imports starting April 1, in retaliation to 25% U.S. tariffs on steel and aluminum. The EU’s decision follows the expiration of previous duty free quotas and product exclusions granted by the U.S.
The countermeasures will fully take effect by April 13 targeting a wide range of industrial, agricultural and consumer goods. Affected products may include steel, aluminum, textiles, home appliances, plastics, poultry, beef, eggs, dairy, sugar and vegetables.
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European Commission President Ursula von der Leyen emphasized that while these tariffs are a “strong but proportionate” respons the EU remains open to negotiations. She asked for a meaningful dialogue to prevent further economic burdens amid geopolitical and trade uncertainties.
Source: Business Inspection BD
