EU announces counter tariffs on US primarily targeting Republican states
2 weeks, 4 days ago

EU announces counter tariffs on US primarily targeting Republican states

India Today  

The European Union on Wednesday announced retaliatory trade action with new duties on US industrial and farm products, responding within hours to the Trump administration's increase in tariffs on all steel and aluminium imports to 25%. The EU measures will cover goods from the United States worth some 26 billion euros, and not just steel and aluminum products, but also textiles, home appliances and agricultural goods. THE EU MOVES TO PROTECT ITSELF European Commission President Ursula von der Leyen said in a statement that the bloc “will always remain open to negotiation.” “As the US are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros,” she said. AMERICAN BUSINESS GROUP URGES TALKS The American Chamber of Commerce to the EU said the US tariffs and EU countermeasures “will only harm jobs, prosperity and security on both sides of the Atlantic.” “The two sides must de-escalate and find a negotiated outcome urgently,” the chamber said Wednesday. EU Trade Commissioner Maro efovi traveled to Washington last month in an effort to head off the tariffs, meeting with US Commerce Secretary Howard Lutnick and other top trade officials.

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