In response to the imposition of new US tariffs on EU steel and aluminium imports, the European Commission has launched economic countermeasures on US imports into the EU.
The European Commission criticized the “unjustified” U.S. tariffs on steel and aluminium and said it has launched “swift and proportionate countermeasures.”
The Commission said the decision to restore the 2018 and 2020 countermeasures against the US will take immediate effect on April 1. “These countermeasures target a range of US products that respond to the economic harm done on €8 billion of EU steel and aluminium exports.”
The Commission said it is also putting forward a new package of countermeasures that will be in response to Trump’s new tariffs “affecting more than €18 billion of EU exports.”
They will come into force by mid-April, following consultation of Member States and stakeholders.
In total, the Commission said its countermeasures will apply to U.S. goods exports worth up to €26 billion, “matching the economic scope of the US tariffs.”
The Commission aims to have the legal act imposing the countermeasures in place by mid-April.
Ursula von der Leyen, President of the European Commission, said: “As of this morning the United States is applying a 25% tariff on imports of steel and aluminium. We deeply regret this measure. Tariffs are taxes. They are bad for business, and even worse for consumers. These tariffs are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake. Prices will go up. In Europe and in the United States. The European Union must act to protect consumers and business.”
Ursula von der Leyen commented that “as the US are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth €26 billion.”
“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. In the meantime, we will always remain open to negotiation,” she said.
