The European Union (EU) is set to enforce counter tariffs on U.S. goods worth €26 billion ($28.33 billion) starting next month, European Commission announced on Wednesday.
The panel said that additional countermeasures will be adopted by mid-April, with the suspension of tariffs on U.S. products officially ending on April 1.
These actions are in line with how U.S. tariffs affect the economy. “We will execute our response in two stages, starting on April 1 and being fully operational by April 13,” said European Commission President Ursula von der Leyen.
She also underlined that the EU is still willing to engage in dialogue, designating Trade Commissioner Maros Sefcovic to carry on talks with American officials in an effort to find different solutions.
Earlier President Donald Trump has announced plans to impose a 25% tariff on imports from the European Union claiming that the EU was established to sabotage American economic interests.
“In general, it will be 25%,” he informed reporters. “Cars and many other products will be affected by that.” Trump stated.
He further said that while the United States still allows European exports, the EU “does not accept U.S. cars and farm products.”
At the moment, the U.S. retains a 25% tariff on imported pickup trucks while the EU levies a 10% tariff on U.S. automobile imports. The U.S. levies a 2.5% tax on European passenger cars.
