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These countermeasures will take effect on April 15 and can be suspended at any time if the US agrees to negotiate.
The European Union has decided to respond with "fire" to Donald Trump's high tariff attacks. The union has backed the first countermeasures against tariffs imposed by the United States, after member states today approved a proposal in response to the 25% tariff that the US imposed on EU steel and aluminum exports.
" The EU considers the US tariffs unjustified and harmful, causing economic harm to both parties, as well as to the global economy. The EU has stated its clear preference to find negotiated outcomes with the US that would be balanced and mutually beneficial ," the European Commission said in a statement.
These countermeasures will take effect on April 15 and can be suspended at any time if the US agrees to negotiate.
" The Union will start collecting duties from April 15, stressing that these countermeasures can be suspended at any time, if the US agrees to a fair and balanced negotiated outcome ," the statement said.
The commission did not immediately provide details about the tariff it would impose on several other goods imported from the US.
Tariffs are backfiring for the Trump administration. The US economy is taking a huge hit due to the retaliatory measures coming from other countries like China and the EU.
If Trump continues with this ideology, recession will be inevitable and the economic damage irreparable.
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