The European Commission announced on Wednesday a series of countermeasures in response to the US decision to impose additional tariffs on steel and aluminum imports from the EU. The Commission will reinstate previously suspended rebalancing measures from 2018 and 2020 while introducing new tariffs targeting US products, including boats, bourbon, and motorbikes.
Brussels said the new countermeasures will impact approximately €18 billion worth of American goods, in addition to the reinstated measures from 2018. The move comes after Washington decided to raise tariffs from 10% to 25% and expand them to other steel- and aluminum-related products, affecting a total of €26 billion in EU exports. The European Commission warned that these US tariffs would cost American importers up to €6 billion in additional duties.
Stakeholders will debate the EU’s response until March 26, after which the Commission will finalize the measures by mid-April. The latest trade dispute escalates tensions between the two economic powers, with Brussels determined to ensure that its retaliatory measures match the scale of Washington’s new tariffs.
