EU to impose €26 billion tariffs on US goods in retaliatory move

The European Commission has announced plans to implement countermeasures against the US following the imposition of new tariffs on EU steel and aluminum imports, according to a press release. The Commission aims to match the economic scope of the US measures, which impact approximately €26 billion worth of EU exports.

The EU’s response includes a two-step approach. First, the suspension of the 2018 and 2020 countermeasures against the US will be lifted on April 1, targeting various US goods linked to €8 billion of EU steel and aluminum exports. Second, the Commission will introduce a new package of countermeasures addressing the recent tariffs affecting more than €18 billion of EU exports. The new measures are expected to come into force by mid-April after consultations with Member States and stakeholders.

Explaining the EU’s approach, European Commission President Ursula von der Leyen stated, “The countermeasures we take today are strong but proportionate. As the US is applying tariffs worth $28 billion, we are responding with countermeasures worth €26 billion.” She emphasized the EU’s willingness to negotiate, adding, “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. We are ready to engage in meaningful dialogue.”