- Advertisement -spot_img
HomeBEVOLVE NEWSEU Imposes Almost $28B In Counter-Tariffs As Trump’s Steel And Aluminum Tariffs...

EU Imposes Almost $28B In Counter-Tariffs As Trump’s Steel And Aluminum Tariffs Begin – One America News Network

- Advertisement -spot_img


ROME, ITALY - MARCH 12: Shoppers and tourists walk past the US owned store Nike in the upmarket Via del Corso shopping area on March 12, 2025 in Rome, Italy. The European Union announced today that, from April 1, it would impose tariffs on iconic American products such as Harley-Davidson motorcycles, bourbon and jeans, in response to President Trump's imposition of global tariffs on steel and aluminium. (Photo by Christopher Furlong/Getty Images)
Shoppers and tourists walk past the US owned store Nike in the upmarket Via del Corso shopping area on March 12, 2025 in Rome, Italy. The European Union announced today that, from April 1, it would impose tariffs on iconic American products such as Harley-Davidson motorcycles, bourbon and jeans, in response to President Trump’s imposition of global tariffs on steel and aluminium. (Photo by Christopher Furlong/Getty Images)

OAN Staff James Meyers
9:58 AM – Wednesday, March 12, 2025

The European Union has retaliated with its own tariffs in response to President Donald Trump’s 25% tariffs on steel and aluminum products that took effect Wednesday. 

Advertisement

First, the European trading bloc, which is composed of 27 countries, will allow the suspension of the existing 2018 and 2020 “countermeasures” against the U.S. to expire April 1st. Second, the commission is proposing a new package of “countermeasures” on goods that come from the U.S. that goes into effect in April, which covers close to $28 billion in imports. 

The president of the European Commission, Ursula von der Leyen, called the 25% U.S. tariffs on global imports of the metals “unjustified trade restrictions.”

“We deeply regret this measure,” von der Leyen said in a statement, where she announced “strong, but proportionate” countermeasures would come into force on April 1st.

“Tariffs are taxes. They are bad for business, and even worse for consumers,” von der Leyen said Wednesday in a statement. “These tariffs are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake. Prices will go up. In Europe and in the United States.”

“The European Union must act to protect consumers and business,” she claimed. “The countermeasures we take today are strong but proportionate.”

The EU revealed a 99-page list of possible items that could be affected by the tariffs, including fruit and vegetables and meat. 

“We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs. We are ready to engage in meaningful dialogue,” von der Leyen said, adding that she tapped Trade Commissioner Maroš Šefčovič to continue dialogue to “explore better solutions with the U.S.”

Meanwhile, the president has argued repeatedly that additional tariffs will help bring more jobs to America and has stated that the U.S.’ trade deals with the EU have been “unfair.”

“They’ve really taken advantage of us,” the president said about Europe in a Cabinet meeting in February. “They don’t accept our cars, they don’t accept, essentially, our farm products. They use all sorts of reasons why not. And we accept everything of them.”

Additionally, the 47th president has proposed separate tariffs on its two neighboring countries, along with an additional 10% tariff on China. 

This also comes after Trump announced on Tuesday that the White House increased steel and aluminum tariffs against Canada after the neighboring country put in an electricity surcharge on three states as the tariff war continues to escalate. 

The 27 member countries will be briefed by the EU later on Wednesday. 

Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here. https://www.oann.com/alerts

Advertisements below

Share this post!





Source link

- Advertisement -spot_img
- Advertisement -spot_img
Stay Connected
16,985FansLike
2,458FollowersFollow
61,453SubscribersSubscribe
Must Read
- Advertisement -spot_img
Related News
- Advertisement -spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here