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EU Prepares Countermeasures Against US Tariffs Amid Trade Tensions
Amid escalating trade tensions, the European Union is formulating additional countermeasures targeting United States tariffs, should ongoing negotiations prove unsuccessful. European Commission President Ursula von der Leyen announced the contingency plans as concerns mount over transatlantic trade relations. These potential EU countermeasures are in response to recently imposed US tariffs and highlight the ongoing trade disputes between the two major economic blocs.
Von der Leyen Condemns US Tariffs as “Major Blow”
The tariffs, levied by U.S. President Donald Trump, imposed a 20% duty on certain EU imports starting Wednesday. Speaking during a live broadcast, President von der Leyen characterized Trump’s tariff imposition as a “major blow” to the global economy.
She further stated, “There seems to be no order in the disorder, no clear path to the complexity and chaos that is being created as all U.S. trading partners are hit.”
“This escalating uncertainty,” Von der Leyen warned, “will fuel a surge in protectionism. The ramifications will be severe for millions worldwide, particularly for vulnerable nations currently facing the highest US tariffs.”
EU Ready to Retaliate with Counter-Tariffs
Von der Leyen acknowledged alignment with President Trump’s assertion that certain nations exploit current global trade regulations. She affirmed the EU’s willingness to participate in initiatives aimed at adapting the global trading system to contemporary economic realities.
Nevertheless, she cautioned the U.S., stating, “Reaching for tariffs as your first and last tool will not fix it.”
Previously, the EU had declared retaliatory tariffs following prior US tariff impositions intended to safeguard American workers and consumers. At that point, the EU indicated its intention to impose counter-tariffs on $28 billion (€26 billion) worth of US products.
Targeted Goods Include Steel, Aluminum, and Consumer Products
Duties previously suspended, some of which were active during President Trump’s initial term, are slated for reinstatement, accompanied by a range of new tariffs on additional commodities.
The EU’s list of targeted goods encompasses:
- Steel and Aluminum: Industrial-grade and semi-finished/finished products, derivatives like machinery parts, knitting needles.
- Consumer Goods & Agriculture: Bourbon, agricultural products, leather goods, home appliances, and more.
Tariffs Expected to Take Effect in April
After a postponement, these tariffs are anticipated to become effective around mid-April.