Enjoy the benefits of exclusive reading

Tuesday, May 13, 2025
More

Trade Tensions Rise: EU Launches €26 Billion Counterattack on US Tariffs

Must read

VT Newsroom
VT Newsroom
A global media for the latest news, entertainment, music fashion, and more.

In response to the imposition of new tariffs by the United States on European Union steel and aluminum imports, the European Commission has swiftly launched countermeasures on US imports into the EU. The Commission views the US decision as unjustified and harmful to transatlantic trade, resulting in higher prices for businesses and consumers.

Two-Step Approach

The Commission’s response follows a two-step approach:

  1. Suspension of Existing Countermeasures: Starting 1 April, the Commission will allow the suspension of the 2018 and 2020 countermeasures to lapse. These measures previously targeted a range of US products in response to the economic harm caused by tariffs on €8 billion of EU steel and aluminum exports.
  2. New Countermeasures: In response to new US tariffs affecting more than €18 billion of EU exports, the Commission is putting forward a new package of countermeasures on US exports. These measures will come into force by mid-April, following consultation with Member States and stakeholders.

In total, the EU’s countermeasures could apply to US goods exports worth up to €26 billion, matching the economic impact of the US tariffs. The EU remains open to negotiating a solution with the US administration, and the countermeasures can be reversed if such a solution is found.

Statement from President Ursula von der Leyen

President of the European Commission, Ursula von der Leyen, expressed regret over the US decision and highlighted the importance of trade relations between the EU and the US. She stated, “Tariffs are taxes. They are bad for business, and even worse for consumers. These tariffs are disrupting supply chains, bringing uncertainty for the economy. Jobs are at stake, and prices will go up both in Europe and the United States.”

She emphasized the need for the EU to act to protect consumers and businesses and expressed a willingness to engage in meaningful dialogue with the US to find better solutions.

Next Steps

The Commission’s decision to restore the 2018 and 2020 countermeasures against the US will take immediate effect on 1 April. The process in response to the new US tariffs will proceed under the EU’s Enforcement Regulation, considering the US measure as a safeguard measure. A two-week stakeholder consultation will run until 26 March, after which the Commission will finalize its proposal and consult Member States. The legal act imposing the countermeasures is expected to be in place by mid-April.

Background

In 2018, the US introduced tariffs on €6.4 billion of European steel and aluminum exports, followed by additional tariffs in 2020. The EU responded with countermeasures on US exports to the EU. In February 2025, the US announced new 25% tariffs on imports of steel and aluminum, prompting a firm response from the EU.

The US tariffs will apply to industrial-grade steel and aluminum, other steel and aluminum products, and their derivative commercial products, covering up to €26 billion worth of EU exports to the US.

The EU’s countermeasures aim to match the economic impact of the US tariffs and protect the interests of European consumers and businesses. The Commission remains committed to finding a negotiated solution and is ready to engage in meaningful dialogue with the US administration.

Comments
More From Author

A global media for the latest news, entertainment, music fashion, and more.

- Advertisement -spot_img

More articles

Trump Administration

South Asia

- Advertisement -spot_img

Latest article

Most Polular

Worldwide news every day

Read more

Get involved

Become part of the community

House Republicans Propose $880 Billion Medicaid Cuts to Fund Sweeping Tax Plan

Exclusive: House Republicans have unveiled a sweeping tax plan that includes $880 billion in Medicaid cuts over the next decade. The proposal, aimed at funding new tax breaks and extending Trump-era reforms, has sparked fierce criticism over its impact on healthcare for millions of low-income Americans.

Trump’s Riyadh Visit: Economic Diplomacy Overshadows Geopolitical Tensions

Key Points: President Trump lands in Riyadh to begin four-day Gulf tour, greeted with royal ceremony. U.S.-Saudi forum expected to unlock $1 trillion in economic investment pledges. Civil nuclear deal discussed as Saudi Arabia seeks uranium enrichment capability. Critics raise ethical concerns over...

Know the Outputs of Two Days of Closed-Door Discussions on U.S.-China Trade: What Has Been Agreed to So Far

GENEVA — The United States and China have agreed to a 90-day suspension of selected tariff increases, following two days of closed-door negotiations held in Geneva, Switzerland. The breakthrough was confirmed in a joint statement released by the White...

Virat Kohli Bids Farewell to Test Cricket After 14 Glorious Years

NEW DELHI — Cricket icon Virat Kohli has announced his retirement from Test cricket, bringing an end to a 14-year-long red-ball journey that defined a generation of Indian cricket and reshaped its global identity. The 36-year-old former India captain...