The European Union announced on Wednesday new counter customs measures on US exports to the bloc, which will come into effect by mid-April, in response to the US new imposed tariffs on EU steel and aluminum imports, which took effect today.
European Commission President Ursula von der Leyen explained in a press statement that the EU will respond with countermeasures worth of EUR 26 billion (approximately USD 28 billion), which are proportional to the scope of the US tariffs imposed, and will be introduced in two phases, starting from April 1 and fully from April 13.
She said that this measure harms businesses and even more so consumers, warning that these US tariffs bring uncertainty to the economy, threaten jobs and raise prices in Europe and in the United States. The Commission remains open to working with the US administration to find a negotiated solution, she added, stressing that it is not in their common interest to burden their economies with tariffs.
The United States announced on February 10 that it would impose a 25 percent tariff on imports of steel, aluminum, and derivative products.
Source: KUNA
