BRUSSELS:
The European Union will impose counter tariffs on 26 billion euros ($28 billion) value of US items from subsequent month, the European Fee mentioned on Wednesday, ramping up a world commerce struggle in response to blanket US tariffs on metal and aluminium.
The EU govt mentioned, nevertheless, that it remained open to negotiations and regarded larger tariffs in nobody’s curiosity.
US President Donald Trump’s elevated tariffs of 25% on all metal and aluminium imports took impact on Wednesday as prior exemptions, responsibility free quotas and product exclusions expired.
The European Fee mentioned it’ll finish its present suspension of tariffs on US merchandise on April 1 and that its tariffs might be absolutely in place by April 13.
“The counter measures we take as we speak are sturdy however proportionate. As america are making use of tariffs value $28 billion we’re responding with counter measures value 26 billion euros,” European Fee Chief Ursula von der Leyen advised reporters. “The EU should act to guard its customers and enterprise,” she mentioned.
The suspended tariffs apply to merchandise starting from boats to bourbon to motorbikes, and the EU mentioned it will now begin a two-week session to select different product classes.