European Commission President Ursula von der Leyen speaks in front of the EU flag at a press conference.
The European Union is set to retaliate against U.S. President Donald Trump’s tariffs with countermeasures totalling 26 billion euros ($45 billion). The new duties, effective April 1, will target a broad range of U.S. goods, including not only steel and aluminium, but also textiles, home appliances, and agricultural products according to ABC News report.
Ursula von der Leyen, European Commission president, expressed concern over the potential economic impact: “We deeply regret this measure. Tariffs are taxes. They are bad for business and even worse for consumers. These tariffs are disrupting supply chains and bringing uncertainty to the economy. Jobs are at stake, and prices will rise in both Europe and the United States.”
The EU countermeasures will hit U.S. products such as poultry, beef, seafood, nuts, eggs, sugar, and vegetables. The European Commission, which oversees trade for the EU’s 27 member states, will administer the measures. However, the United Kingdom, no longer part of the EU, has said it will not impose similar retaliatory tariffs.
Tensions between the EU and the U.S. have been rising over trade issues, with tariffs straining relations between the two economic giants, which together account for 30% of global trade. The U.S. is the second-largest export market for EU steel producers, and there are concerns that the tariffs could significantly impact the European steel industry.
Henrik Adam, president of the Eurofer European steel association, warned that the EU could lose up to 3.7 million tonnes of steel exports. “It will further worsen the situation of the European steel industry, exacerbating an already dire market environment,” he said.
This marks the second time the EU has imposed retaliatory measures in response to Trump’s tariffs, which were first introduced during his administration. Despite the tension, von der Leyen emphasized that the EU remains open to negotiations.