The European Union will begin imposing retaliatory tariffs on US products starting April 15 in response to Washington’s duties on EU steel and aluminum. EU Trade Commissioner Maros Sefcovic confirmed the move after an emergency meeting of trade ministers in Luxembourg.
The tariffs will affect €380 billion worth of EU exports, particularly industrial goods and vehicles. A second round of tariffs is scheduled to take effect on May 15. Sefcovic said the EU prefers a negotiated solution but cannot delay its response indefinitely. Talks with the US are ongoing.
TR