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The European Commission is responding to the US tariffs of 25% on aluminum and steel imports, which came into effect today, Wednesday, March 12.
Brussels announced that it will impose "strong but balanced" tariffs on a range of American products, starting April 1. The measures target trade flows worth $26 billion, to balance the impact of tariffs imposed by the US.
The European Union "deeply regrets" the measures taken by US President Donald Trump, said the statement by European Commission President Ursula von der Leyen.
These are countermeasures put in place to "protect" European companies, workers and consumers from the impact of unjustified trade restrictions imposed by the US, which have hit – after recent swings with Canada – imports of steel, aluminium and some products containing these raw materials, both from the EU and other trading partners.
As Bloomberg points out, the value being targeted is now nearly four times higher than that struck during Trump's first term, when the US imposed tariffs on nearly $7 billion in metal exports from the EU, citing national security reasons.
Up to 6 billion euros in additional fees
Today's Brussels communiqué states that "the US tariffs will affect a total of 26 billion euros of EU exports, which accounts for around 5% of total exports," and that "based on current import flows, US importers will have to pay up to 6 billion euros in additional tariffs."
In response, the EU will impose tariffs on American steel and aluminum products, as well as textiles, agricultural products and household appliances.
The EU's two-phase response
In the first phase, the Commission will allow the suspension of countermeasures previously imposed in 2018 and 2020 during the first wave of the trade war with Trump to expire from April 1. In this phase, tariffs will be applied to products such as boats, bourbon and motorcycles, Brussels explains. These measures are intended to respond to tariffs that the US has imposed on EU steel and aluminum, which affect a value of 8 billion euros in exports.
In the second phase, in response to new US tariffs affecting over €18 billion of EU exports, the Commission is proposing a new package of countermeasures against US exports. These will enter into force by mid-April, after consultations with Member States and stakeholders.
The Commission's proposal is for tariffs to focus on industrial products such as steel and aluminum, textiles, leather goods, electrical appliances, kitchenware, plastics, and wood products.
Agricultural products such as poultry, beef, some types of seafood, nuts, eggs, dairy products, sugar and vegetables will also be included. This will reach the figure of 26 billion euros./LaRepublica
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