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The European Union (EU) has quickly retaliated against U.S. President Donald Trump’s 25% tariffs imposed on steel and aluminum imports from the continent.
The EU has hit back with its own counter measures, saying they need to protect consumers and businesses across Europe.
Trump confirmed 25% duties on all steel and aluminum imports, which apply to not only Europe but to Canada and Australia as well.
However, Trump backed down on a promise to impose tariffs of up to 50% on metals from Canada.
The European Union has responded quickly, imposing counter-tariffs on 26 billion euros ($28.33 billion U.S.) worth of American goods beginning in April.
European Commission President Ursula von der Leyen said at a news conference that the EU “must act to protect businesses and consumers.”
The EU’s approach will see previously suspended tariffs re-imposed on eight billion euros of U.S. imports, and a slew of new countermeasures on 18 billion euros of goods in a move Von der Leyen described as “strong but proportionate.”
The European tariffs apply to industrial-grade steel and aluminum, other steel and aluminum products, and derivative commercial products such as machinery parts.
Unlike Mexico, Canada and China, Europe had not been hit by Trump’s tariffs until the steel and aluminum duties came into effect on March 12.
European Commission data shows that the overall EU / U.S. trade in goods and services in 2023 was worth 1.6 trillion euros ($1.68 trillion U.S.).
Machinery and vehicles are the biggest European exports to the U.S., followed by chemicals and pharmaceutical products.
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