European Commission President Ursula von der Leyen announces a response to new US tariffs on steel and aluminium imports and unveils a package of countermeasures targeting US exports.
Early Wednesday morning, the EU executive unveiled a set of proportionate countermeasures on US imports into the EU, targeting a range of US products from boats to bourbon to Harley-Davidson motorcycles.
The move is in response to the tariffs, which the EU considers unjustified and intrusive, that Washington imposed at midnight.
"We deeply regret this measure. Duties are taxes. They are bad for business and even worse for consumers. These tariffs disrupt supply chains. They bring uncertainty to the economy," said European Commission President Ursula von der Leyen.
"Jobs are at stake. Prices will rise. In Europe and in the United States," she continued.
Last month, US President Donald Trump signed an executive order imposing a 25% tariff on imports of steel, aluminium and related derivatives, affecting around €26 billion worth of EU exports.
The EU condemned the move at the time and said it would not hesitate to retaliate if the US agreed to the new tariffs.
The EU, especially Germany, is a major exporter of steel to the US. During Trump's first term, the EU responded to similar tariffs with EUR 2.8 billion of tariffs on US goods.
Two-step reaction
The EU countermeasures will be implemented in two steps.
On 1 April, the EU will let the suspension of existing 2018 and 2020 countermeasures against the US expire.
These measures targeted a range of US products, from boats to bourbon to Harley-Davidson motorcycles, and covered economic damage estimated at EUR eight billion.
By mid-April, the EU will introduce a new round of countermeasures in response to the US tariffs. These will affect US exports worth up to €18 billion, bringing the total EU response to €26 billion, equivalent to the scale of the US tariffs.
The proposed target products for this second phase include industrial products such as steel and aluminium, textiles, leather goods, household appliances, household tools, plastics and wood products, as well as agricultural products such as poultry, beef, some seafood, nuts, eggs, dairy products, sugar and vegetables.
A two-week stakeholder consultation will run until 26 March to allow industry and trade representatives to comment on the proposed new countermeasures.
The final legislation enforcing the tariffs is expected to be in place by mid-April, once approved by EU countries.
The path to action
Despite its strong reaction, the European Commission remains open to a negotiated solution.
"In a world full of geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs," stressed von der Leyen.
It mandated EU Trade Commissioner Maroš Šefčovič to resume talks and seek an alternative solution with Washington.
The EU's response follows a history of trade disputes over steel and aluminium tariffs dating back to 2018, when the Trump administration first imposed tariffs on European exports.
Although previous negotiations led to a suspension of retaliatory tariffs, the latest US measures have reignited tensions and prompted the EU to take action.
euronews/ gnews.cz - RoZ
PHOTO - Eric Krull on Unsplash
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