The European Union responded quickly with a two-stage approach in response to President Trump's 25% tariffs on steel and aluminum that came into effect Wednesday.
First, the 27-nation European trade bloc will allow the US to suspend existing 2018 and 2020 measures on April 1. Second, the committee proposes a new measurement package for new products from the United States, which will take effect in mid-April, covering a total of around $28 billion in imports.
The European Commission president Ursula von der Leyen said Europe regrets Trump's extra charges “deeply” in steel and aluminum.
“Taxes are taxes. They're bad for businesses and even worse for consumers,” von der Leyen said Wednesday. In a statement. “These tariffs are disrupting the supply chain. They bring uncertainty to the economy. Employment is at a crisis. Prices are rising. In Europe and the US.”
“The European Union must act to protect consumers and businesses,” she continued.
After releasing the answer, the EU released 99 pages A list of possible items It can be affected by tariffs on fruits and vegetables, meat, alcoholic drinks, nicotine steam, chewing gum and more.
Sales of motorcycles, outerwear, home appliances, workshop tools and snow blowers could also be affected.
“We firmly believe that in a world filled with geopolitical and economic uncertainty, we are not our common interest in burdening our economy with tariffs. Von Der Leyen added that he tapped Trade Commissioner Maroššhefčovič to continue the dialogue to “find a better solution with the United States.”
Trump has long argued that additional tariffs on imports will help return manufacturing jobs to the US, and that Washington's trade deal with the EU is “unfair.” The President's 25% tariff on aluminum represents a 15 percentage point increase from the past 10% imposed on metal imports.
The president has also proposed separate tariffs to his two neighbors and his biggest trading partners, Canada and Mexico, as well as a 10% tax on Chinese products. Trump said Tuesday that his administration will increase planned steel and aluminum tariffs on Canada in response to the electricity surcharges imposed on the latest escalation of the growing trade war by the Ontario government.
The EU is set to Easy The 27 member states discussed their response later on Wednesday.
