EU imposes counter-tariffs on US goods in response to metal tariffs

The European Union has announced that it will impose counter-tariffs on €26 billion worth of American goods in retaliation to the United States' decision to levy tariffs on all steel and aluminium imports.

The European Commission confirmed that the current suspension of tariffs on US products will end on April 1, with a new package of counter-measures to be introduced by mid-April.

European Commission President Ursula von der Leyen said that the EU remains open to discussions but must take action to protect its economy.

"We are ready to engage in meaningful dialogue. I have entrusted Trade Commissioner Maros Sefcovic to resume his talks to explore better solutions with the US," von der Leyen said in a statement.

Von der Leyen said the European Commission deeply regrets the measures, saying they harm both businesses and consumers.

"Tariffs are taxes. They are bad for business, and even worse for consumers. These tariffs are disrupting supply chains. They bring uncertainty for the economy," she said. "The European Union must act to protect consumers and business. The counter-measures we take today are strong but proportionate."

Trade war intensifies

The US tariffs, which raise duties on steel and aluminium imports to 25% and eliminate exemptions previously granted to various countries, have heightened tensions with key trading partners.

President Donald Trump has defended the measures, arguing that they will strengthen domestic steel and aluminium production. However, critics warn that the tariffs could drive up prices for American consumers and slow economic growth.

The US is a major importer of steel and aluminium, relying heavily on Canada, Mexico, and Brazil for supply.

READ ALSO: Trump is waging a trade war – what does this mean for Malta?