The European Union announced on Wednesday its own countermeasures, saying they will enter into force on April 1, after the Trump administration officially increased tariffs on all steel and aluminum imports to 25%.
“As the US are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros ($28 billion),” European Commission President Ursula von der Leyen said in a statement.
The commission manages trade and commercial conflicts on behalf of the 27 member countries.
“We will always remain open to negotiation. 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,” von der Leyen said.
The commission also said that steel and aluminum products would be hit in return, but also textiles, leather goods, home appliances, house tools plastics and wood.
Agricultural products will also be impacted — including poultry, beef, some seafood, nuts, eggs, sugar and vegetables.
Read the full article here
