EU to impose counter tariffs on over US$28bil of US goods

EU to impose counter tariffs on over US$28bil of US goods

The European Commission says it will end the current suspension of tariffs on US products on April 1 and put forward a new package of countermeasures on US goods by mid-April.

European Commission president Ursula von der Leyen said the EU is ready for dialogue and has entrusted trade commissioner Maros Sefcovic to resume talks with the US to explore better solutions. (AFP pic)
BRUSSELS:
The EU will impose counter tariffs on €26 billion (US$28.33 billion) worth of US goods from next month in response to US tariffs on steel and aluminium, the European Commission said in a statement today.

The commission said it will end the current suspension of tariffs on US products on April 1 and will also put forward a new package of countermeasures on US goods by mid-April.

“This matches the economic scope of the US tariffs.

“Our countermeasures will be introduced in two steps. Starting with 1 April and fully in place as of 13 April,” Ursula von der Leyen, president of the European Commission, said in a statement.

“We are ready to engage in meaningful dialogue. I have entrusted trade commissioner Maros Sefcovic to resume his talks to explore better solutions with the US,” von der Leyen added.

US President Donald Trump’s increased tariffs of 25% on steel and aluminium imports took effect today as prior exemptions, duty free quotas and product exclusions expired.

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