EU revenge against Trump’s trade moves and hits tariffs to products from Republican states
On Wednesday, the European Union announced the retaliation of trade with new duties on US industrial and agricultural products, appropriate within a few hours to increase the Tariff Trump administration to all the imports of steel and aluminum at 25 percent.
The world’s largest trading block was expecting US tariffs and prepared in advance, but measures continue to set up a lot of stress on already tense transatlantic relations. It was only last month that Washington warned Europe that he would have to take care of his own safety in the future.
EU measures will cover goods from the United States worth around EUR 26 billion (USD 40 billion CDN) – not just steel and aluminum products. Textiles, home appliances, agricultural goods will be hit by tariffs, such as motorcycles, bourbon, peanut butter and jeans, the latter of which were also taxed during the first term of US President Donald Trump.
EU duties are targeting pressure points to the US, at the same time minimizing additional damage to Europe. Tarife-Porezes on imports-pre-finally target the Republican states, hitting Soy at House President Mike Johnson of Louisiana, and also beef and poultry in Kansas and Nebraski. The products in Alabama, Georgia and Virginia are also on the list.
The European Commission, which manages trade and commercial conflicts on behalf of 27 EU Member States, said it would hit leather products and agricultural products outside beef and poultry, including some seafood, nuts, eggs, sugar and vegetables.
Tariffs ‘are not in our common interest’
European Commission President Ursula von der Leyen said in a statement that the block “will always remain open to negotiations”.
“While now applying tariffs worth $ 28 billion, we respond to a countermeter worth € 26 billion,” she said. “We firmly believe that in a world full of geopolitical and economic insecurity, it is not in our common interest that our economy burdens the tariffs.”
Prime Minister Justin Trudeau met with the head of NATO EU officials in Brussels, hoping to increase trade and political ties while watching Canada with possible trade war with the United States.
Trump said his taxes would help create US factory jobs, but von der Leyen said: “Jobs are at stake. Prices will increase. In Europe and in the United States.”
“We deeply regret this measure. The tariffs are taxes. They are bad for work, and worse for consumers. These tariffs are a disorder of the supply chain. They bring uncertainty to the economy,” she said.
The US Chamber of Commerce in the EU said that the US tariffs and the counter -arts of the EU would “only harm jobs, prosperity and security on both sides of the Atlantic”.
“The two sides must escalate and urgently find a negotiating outcome,” she said on Wednesday.
Repetition of Trump’s 1st mandate
Trump slapped Similar tariffs on the EU Steel and aluminum during their first term of office, which are angry European and other allies. The EU also imposed countermeasures at the time.
This time the EU action will include two steps. First, on April 1, the Commission will re -introduce what it calls “balance measures”, which the EU has had since 2018 and 2020, but was then suspended under the management of Biden. Then, on April 13, additional duties were targeting € 18 billion ($ 19.6 billion) in US exports to the block.
A lot of apparent Flop-Flop by US President Donald Trump gave a Canadian public and politician case of a cases of whip as they try to move in the war in the store. Political commentator, author and speaker of former president George W. Bush, David Frum, stops from Power & Politics to consider the potential permanent damage to the Canada-US and burden what he thinks it might happen in Trump’s head.
EU trade commissioner Maros Sefcovic traveled to Washington last month in an effort to dismiss from the tariff, meeting with the US Secretary for trade in Howard Lutnik and other highest trade officials.
On Wednesday, he said it became clear during the trip “that the EU is not a problem.”
“I claimed to avoid the unnecessary burden of measures and countermeasures, but you need a partner. You need both hands to clap,” Sefcovic told reporters at the European Parliament in Strasbourg, France.
European steel companies attach to losses
The EU could lose up to 3.7 million tonnes of steel exports, according to the European Steel Eurofer Association. The US is the second largest export market for EU steel producers, which is 16 percent of the total EU steel exports.
The EU estimates that the annual volume of the store between both sides is about $ 1.5 trillion, which represents about 30 percent of the global trade. Although the block has a significant export excess in the goods, he says it is partly compensated for by excess USA services trade.
Britain, which is not part of the EU, in the meantime, she said she would not impose her retaliation measures in the United States
