The European Union has decided to respond harshly to the US decision on tariffs on European goods.
European Commission President Ursula von der Leyen announced at a press conference that the EU will impose counter-tariffs on over 26 billion euros of American goods starting in April.
The decision is expected to trigger a global trade war in response to the US’s general tariffs on steel and aluminium.
“As of this morning, the United States is imposing a 25% tariff on steel and aluminium imports. We deeply regret this measure. Tariffs are taxes. They are bad for business and worse for consumers. They are disrupting supply chains. They are bringing uncertainty to the economy. Jobs are at risk. Prices are rising. No one needs this on either side. Not in the European Union or in the United States. The European Union must act to protect consumers and businesses. The countermeasures we are taking today are strong but proportionate. While the United States is imposing tariffs worth $28 billion, we are responding with countermeasures worth €26 billion. This is in line with the economic scope of the United States’ tariffs. "Our countermeasures will be categorized in two steps, starting from April 1 and fully in force from April 13. In the meantime, we will always remain open to negotiations. We firmly believe that in a world filled with geo-economic and political uncertainty, it is not in our common interest to burden our economies with such tariffs," Von der Leyen said. (A2 Televizion)
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