The European Union approved on Wednesday a new package of retaliatory tariffs worth $23 billion against U.S. goods, in response to the 25% tariffs imposed by President Donald Trump on imported steel and aluminum.
The European tariffs will come into effect in three phases: on April 15, May 15, and December 1.
Although the European Commission has not yet published the complete list of affected products, it has made it clear that the measures aim to apply pressure without triggering a large-scale trade war, reported the news agency AP.
"The EU believes that the tariffs imposed by the United States are unjustified and harmful, causing economic damage to both parties, as well as to the global economy," stated the executive commission of the community bloc.
The measure is part of a strategy that aims to balance firmness with a willingness to engage in dialogue.
The President of the European Commission, Ursula von der Leyen, reiterated the bloc's willingness to reach an agreement on zero tariffs on industrial goods, including automobiles.
However, Trump—who has unleashed a trade war against the world's major economies, including China—has deemed that such an offer does not fully address Washington's concerns.
Trade between the EU and the United States represents one of the most significant economic relationships in the world, with approximately $1.8 trillion in annual exchange. Every day, €4.4 billion in goods and services crosses the Atlantic.
This new tariff package complements European efforts to respond proportionately to the protectionist policies driven by the United States. The Commission is also evaluating a second package of measures, which could include actions against U.S. tech companies and the service sector, should Washington maintain or expand its unilateral tariffs.
The French Minister of Economy, Eric Lombard, emphasized that Europe seeks to engage in negotiations “on equal terms.”
"The idea is that, with these extremely strong and powerful measures, we can arrive at the negotiating table on equal terms, so that both sides of these tariffs can be reduced and all our economic sectors are protected," he expressed.
The European announcement comes in the context of increasing global trade tensions, with China also raising its retaliatory tariffs against the United States and international markets showing signs of instability.
Frequently Asked Questions about the New European Union Tariffs on the United States
Why has the European Union imposed new tariffs on the United States?
The European Union has imposed new tariffs in response to the 25% tariffs that the United States, under the Donald Trump administration, has applied to steel and aluminum imported from Europe. This action aims to serve as retaliation against what the EU considers unjustified tariffs that harm both its economy and the global economy. The bloc's intention is to pressure for negotiations without triggering a large-scale trade war.
When will the European tariffs against the United States take effect?
The European tariffs are scheduled to come into effect in three phases: on April 15, May 15, and December 1. The European Commission has decided to implement the measures gradually to allow for possible negotiations and to cushion the economic impact both in Europe and in the United States.
What American products will be affected by the new EU tariffs?
Although the complete list of affected products has not yet been published, the most susceptible sectors to be taxed include chemicals, pharmaceuticals, automotive, and machinery. These areas have been highlighted by the European Commission as targets for the new tariffs.
What is the stance of the European Union regarding a possible trade war with the United States?
The European Union seeks to avoid a trade war and is willing to negotiate to reach a zero-tariff agreement on industrial goods. Ursula von der Leyen, President of the European Commission, has reiterated the EU's readiness for dialogue, although she has also stated that the bloc is prepared to implement countermeasures if the United States does not respond favorably.
How does this situation affect global trade?
The trade between the EU and the United States is one of the most important economic relationships in the world, with an annual exchange of about 1.8 trillion dollars. Tariff tensions are causing concern about a potential global recession, already impacting international markets with significant declines in stock exchanges in Asia and Europe. This context of instability could have negative repercussions on emerging economies and international trade.
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