EU Retaliates Against US Tariffs on Steel and Aluminum

In response to the US imposing new tariffs on steel and aluminum, the European Union has decided to impose tariffs on American goods valued at approximately 26 billion euros, which is about $28.4 billion.

The European Commission has characterized these new measures as both 'swift' and 'proportionate' in a statement issued on Wednesday, denouncing the US tariffs as unwarranted.

According to the commission's declaration, they are disheartened by the US decision to apply these tariffs, viewing them as unjustified, obstructive to the trade between continents, and detrimental to both businesses and end consumers, as they frequently lead to increased costs.

Last month, Trump initiated a 25% tariff on all steel and aluminum imports, which is now in force.

The European Commission has aligned its own countermeasures to match the breadth of the US tariffs, impacting American exports such as boats, whisky, and motorcycles.

They also emphasized their willingness to engage with the United States in discussions aimed at reaching a mutually agreeable resolution.

Ursula von der Leyen, the President of the European Commission, made a statement expressing that 'Tariffs act as taxes. They negatively affect industries and are even more detrimental to consumers. Such tariffs disrupt supply chains, create uncertainties in the economy, pose risks to jobs, and lead to higher prices in both Europe and the US.'