EU reacts to Trump's tariffs
The EU is set to implement countermeasures on $28 billion in US goods beginning next month. Read Full Article at RT.com.
TroibNews 
The European Commission is preparing to respond to the recent US tariffs on EU imports by implementing what it deems “swift and proportionate” countermeasures, further heightening trade tensions.
President Donald Trump’s increase of tariffs by 25% on steel and aluminum imports from the EU became effective on Wednesday, following the expiration of previous exemptions, duty-free quotas, and product exclusions.
In a statement released on Wednesday, the Commission criticized Trump’s tariffs as “unjustified” and disruptive, highlighting the potential repercussions for transatlantic trade. The EU’s executive body plans to impose counter-tariffs on €26 billion worth of American goods starting next month.
“Tariffs are taxes, they are bad. . . ” European Commission President Ursula von der Leyen remarked.
The EU’s retaliatory measures will target products such as industrial-grade steel and aluminum, both semi-finished and finished items, as well as derivative products including machinery parts and knitting needles.
This back-and-forth is the latest development in an escalating trade disagreement between Washington and Brussels, which has intensified since Trump vowed to impose extensive import duties to remedy what he describes as an unfair trade imbalance.
Last month, Trump revealed plans to impose 25% tariffs on all imports from the EU, asserting that the bloc was created to “screw” America. These tariffs will affect a wide range of European goods, with the auto industry anticipated to be significantly impacted. According to reports from Bloomberg, these measures could considerably hinder the EU’s economic growth.
A similar trade conflict occurred during Trump’s initial term, when he imposed a 25% tariff on European steel and a 10% tariff on aluminum, prompting the EU to retaliate with its own countermeasures. During that period, Trump also hinted at tariffs on European cars, although those did not come to fruition. Ultimately, the two parties exchanged tariffs on goods totaling over $10 billion.
Navid Kalantari for TROIB News
President Donald Trump’s increase of tariffs by 25% on steel and aluminum imports from the EU became effective on Wednesday, following the expiration of previous exemptions, duty-free quotas, and product exclusions.
In a statement released on Wednesday, the Commission criticized Trump’s tariffs as “unjustified” and disruptive, highlighting the potential repercussions for transatlantic trade. The EU’s executive body plans to impose counter-tariffs on €26 billion worth of American goods starting next month.
“Tariffs are taxes, they are bad. . . ” European Commission President Ursula von der Leyen remarked.
The EU’s retaliatory measures will target products such as industrial-grade steel and aluminum, both semi-finished and finished items, as well as derivative products including machinery parts and knitting needles.
This back-and-forth is the latest development in an escalating trade disagreement between Washington and Brussels, which has intensified since Trump vowed to impose extensive import duties to remedy what he describes as an unfair trade imbalance.
Last month, Trump revealed plans to impose 25% tariffs on all imports from the EU, asserting that the bloc was created to “screw” America. These tariffs will affect a wide range of European goods, with the auto industry anticipated to be significantly impacted. According to reports from Bloomberg, these measures could considerably hinder the EU’s economic growth.
A similar trade conflict occurred during Trump’s initial term, when he imposed a 25% tariff on European steel and a 10% tariff on aluminum, prompting the EU to retaliate with its own countermeasures. During that period, Trump also hinted at tariffs on European cars, although those did not come to fruition. Ultimately, the two parties exchanged tariffs on goods totaling over $10 billion.
Navid Kalantari for TROIB News
