EU To Impose Counter-Tariffs On $28 Billion In US Goods

European Commission announced on Wednesday that the European Union would implement counter-tariffs on U.S. goods valued at 26 billion euros ($28 billion) starting next month, escalating a global trade conflict in reaction to widespread U.S. tariffs on aluminium and steel. The higher tariffs of 25 per cent imposed by U.S. President Donald Trump on all imports of steel and aluminium went into effect on Wednesday as previous exemptions, duty-free quotas, and product exclusions ended, per a Reuters report.

EU imposes $28B counter-tariffs

The European Commission announced it would terminate the current suspension of tariffs on U.S. goods on April 1 and propose a new set of countermeasures on U.S. products by mid-April. The suspended tariffs affect items from boats to bourbon to motorcycles, and the EU announced it would begin a two-week consultation to select additional product categories. The updated actions will focus on approximately 18 billion euros worth of goods, aiming to ensure that the total value of the EU's actions aligns with the heightened trade value affected by the new U.S. tariffs, according to the EU.

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The suggested target products consist of industrial and agricultural items, including steel and aluminium, textiles, household appliances, plastics, poultry, beef, eggs, dairy, sugar, and vegetables. "Our measures will be implemented in two phases beginning on April 1 and entirely implemented by April 13," stated Ursula von der Leyen, the president of the European Commission. "We are prepared to participate in significant conversation." "I have tasked Trade Commissioner Maros Sefcovic with continuing his discussions to find improved solutions with the U.S.," von der Leyen stated.