BRUSSELS — The European Union announced countermeasures to President Donald Trump’s imposition of tariffs of up to 25% on EU steel and aluminum imports as of March 12.
Beginning in April, the European Commission will implement its own tariffs on US goods worth up to €26 billion ($28.3 billion) to match the economic scope of the imposed US tariffs.
The Commission plans to exact its countermeasures in two steps. First, on April 1, it will end its suspension on tariffs enacted in 2018 and 2020 during the first Trump administration in a steel and aluminum dispute. In 2022, during the Biden administration, the European Union reached an agreement with the United States to suspend those tariffs. However, with the current suspension set to end March 31, the European Union does not plan to extend this agreement at this point.
The tariffs in question target a range of US products related to the steel and aluminum exports dispute.
The second phase of the European Union’s retaliation includes creating a new slew of countermeasures on US exports, such as on meat, poultry, dairy and several other commodities. These tariffs are expected to be enforced mid-April.
“As of this morning the United States is applying a 25% tariff on imports of steel and aluminum,” said Ursula von der Leyen, president of the European Commission. “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. The countermeasures we take today are strong but proportionate.”
The European Commission noted that any of these measures can be reversed should a solution with the US administration be negotiated.
“We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs,” von der Leyen said.
