EU Responds to US Duties

The trade confrontation between the USA and the European Union is entering an active phase. After the United States imposed 25-percent duties on steel and aluminum imports from the EU (directed, however, not only against Europe), the European Commission announced that it would soon impose proportional retaliatory measures on US imports.

“The European Commission condemns the US decision to impose these duties, considering them unjustified, undermining transatlantic trade, and harming both businesses and consumers, as such measures often lead to higher prices,” the European Commission said in a statement. European Council President António Costa emphasized Brussels’s “determination” to retaliate, but also urged Washington to engage in dialogue to “avoid escalation.”

In response to the new duties imposed by the USA, affecting EU exports worth more than €18 billion, the European Commission intends to apply a package of retaliatory measures against American exports. These measures will go into effect by mid-April. “In total, European countermeasures could affect up to €26 billion worth of US exports, which corresponds to the economic scale of the duties imposed by the United States,” the Commission explained.

“The trade relations between the European Union and the United States is the most important in the world,” said European Commission President Ursula von der Leyen. “They brought prosperity and security to millions of people, and trade created millions of jobs on both sides of the Atlantic. As of this morning, the USA imposed 25-percent duties on steel and aluminum imports. We deeply regret this measure. Tariffs are taxes. They damage businesses and affect consumers to an even greater extent. These tariffs disrupt supply chains. They bring uncertainty to the economy. Jobs are at risk. Prices will go up. Both in Europe and in the United States. The European Union has a duty to act to protect consumers and businesses.”