The European Union has announced retaliatory tariffs on U.S. industrial and agricultural products in response to the Trump administration’s decision to impose a 25% tariff on all steel and aluminum imports. The EU, anticipating the move, has prepared countermeasures targeting $40 billion CAD worth of American goods, including textiles, home appliances, and agricultural products such as bourbon, peanut butter, and jeans.
The EU’s tariffs strategically focus on key Republican-held states, affecting soybeans in Louisiana, beef and poultry in Kansas and Nebraska, and produce in Alabama, Georgia, and Virginia. The European Commission confirmed that additional duties will hit U.S. leather goods, seafood, nuts, eggs, sugar, and vegetables.
European Commission President Ursula von der Leyen emphasized that escalating tariffs would harm both economies, stating, “Jobs are at stake. Prices will go up. In Europe and in the United States.” The American Chamber of Commerce to the EU echoed these concerns, urging both sides to find a negotiated solution.
This trade standoff mirrors Trump’s first-term tariff battles, which led to similar EU countermeasures. The new EU tariffs will be rolled out in two phases, with initial rebalancing measures taking effect on April 1, followed by additional duties on April 13, covering $19.6 billion in U.S. exports.
EU Trade Commissioner Maros Sefcovic, who attempted to avert the tariffs during a recent visit to Washington, stated, “You need both hands to clap,” indicating a lack of cooperation from the U.S. Meanwhile, European steel companies brace for losses, as the EU risks losing up to 3.7 million tons in steel exports to the U.S. Despite the escalating trade conflict, Britain has confirmed it will not impose retaliatory measures.
Source: Swifteradio.com
