The EU could lose up to 3.7 million tons of steel exports.
The move by the EU will be applied on products ranging from industrial products such as textiles and home appliances to agricultural products including poultry, beef and dairy, according to aHours before enacting the latest tariffs, Trump reversed his decision to double the tariff from 25% to 50% onafter Ontario Premier Doug Ford agreed to pause surcharges on electricity for U.
S. customers. "The countermeasures we take today are strong but proportionate. As the U.S. are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros," European Commission President Ursula von der Leyen said in a statement. "We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs. We are ready to engage in meaningful dialogue," von der Leyen added.First, on April 1, the commission will reintroduce what it calls “rebalancing measures,” which the EU had from 2018 and 2020 but which were suspended under the Biden administration. Then on April 13 come the additional duties targeting 18 billion euros in U.S. exports to the bloc. The EU could lose up to 3.7 million tons of steel exports, according to the European steel association Eurofer. The U.S. is the second biggest export market for EU steel producers, representing 16% of the total EU steel exports.
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EU retaliates with $28 billion tariffs on US goods following Trump's steel dutiesThe EU could lose up to 3.7 million tons of steel exports.
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EU retaliates with $28 billion tariffs on US goods following Trump's steel dutiesThe EU could lose up to 3.7 million tons of steel exports.
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EU retaliates with $28 billion tariffs on US goods following Trump's steel dutiesThe EU could lose up to 3.7 million tons of steel exports.
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