EU to Impose $28 Billion in Counter-Tariffs on US Goods

US President Donald Trump's tariffs, which impose a 25% levy on all steel and aluminum imports, officially took effect on Wednesday, following the expiration of previous exemptions, duty-free quotas, and product exclusions.

The European Commission stated that it will lift the current suspension of tariffs on US goods starting on April 1 and will introduce a new package of countermeasures by mid-April. These retaliatory measures will target approximately €18 billion worth of American products.

The suspended tariffs, which have affected a wide range of US products such as boats, bourbon, and motorbikes, will now be re-imposed as the EU begins a two-week consultation to determine additional product categories for inclusion in the countermeasures.

The proposed tariffs will cover a variety of industrial and agricultural products, including steel, aluminum, textiles, home appliances, plastics, poultry, beef, eggs, dairy, sugar, and vegetables. The goal is to ensure that the EU’s response corresponds to the increased trade impact caused by the US tariffs.

“We will introduce our countermeasures in two phases, starting on April 1, with full implementation by April 13,” said Ursula von der Leyen, president of the European Commission, in a statement. “However, we remain open to engaging in meaningful dialogue. I have tasked Trade Commissioner Maros Sefcovic with resuming discussions with the US to explore better solutions.”

The EU's move signals an escalating trade dispute that is likely to have broader implications for global commerce, as both sides continue to dig in their heels. The European Commission’s firm stance on retaliation underscores the EU’s commitment to defending its economic interests while seeking a resolution through diplomatic talks.