Staff of German metal producer Salzgitter AG stand in entrance of a furnace at a plant in Salzgitter, Germany, March 1, 2018.
Fabian Bimmer | Reuters
The European Union has reacted swiftly to U.S. President Donald Trump‘s 25% tariffs on metal and aluminum imports that got here into impact Wednesday, retaliating with their very own punitive counter-measures that it mentioned have been wanted to guard customers and companies.
The White Home confirmed the duties — which can have an effect on Canada, Australia, the EU and others — late Tuesday, however mentioned that Trump not deliberate to boost tariffs on the metals from Canada to 50%.
The EU responded swiftly, saying it will impose counter-tariffs on 26 billion euros ($28.33 billion) price of U.S. items beginning in April.
European Fee President Ursula von der Leyen on Wednesday informed reporters that the EU “should act to guard companies and customers.”
“We deeply remorse this measure [by the U.S.]. Tariffs are taxes, they’re dangerous for enterprise and worse for customers, they’re disrupting provide chains, they bring about uncertainty for the financial system, jobs are at stake, costs are up and no one wants that, neither aspect wants that,” she mentioned throughout a press convention.
Commerce ties between the U.S. and EU “are the most important on the earth,” Von der Leyen mentioned, and the connection had introduced “prosperity and safety to hundreds of thousands of individuals” in addition to job creation on each side of the Atlantic, she famous.
The EU’s two-pronged strategy will see beforehand suspended tariffs re-imposed on 8 billion euros of U.S. exports, and a slew of latest countermeasures on 18 billion euros of products in a transfer Von der Leyen had earlier described as “robust however proportionate.”
“We’ll all the time stay open to negotiation,” she added in a press release.
Rising tensions
European Fee President Ursula von der Leyen attends a press convention after a European Union leaders’ particular summit to debate Ukraine and European protection, in Brussels, Belgium March 6, 2025.
Stephanie Lecocq | Reuters
In contrast to Mexico, Canada and China, EU-origin merchandise had not been hit by Trump’s tariffs till the metal and aluminum duties got here into impact Wednesday.
Tensions between Washington and Brussels have been simmering since Trump’s inauguration in January, when the White Home chief instantly signaled his intention to impose tariffs on the bloc.
“They’ve actually taken benefit of us,” Trump mentioned in a Cupboard assembly on Feb.26, including: “They do not settle for our vehicles, they do not settle for, basically, our farm merchandise. They use all kinds of the explanation why not. And we settle for every part of them.”
One in all Trump’s greatest bugbears is the U.S.’ commerce deficits with quite a few key buying and selling companions, together with Canada and the EU.
European Fee information present that the EU had a commerce surplus of 155.8 billion euros ($159.6 billion) with the U.S. for items in 2023, however ran a 104-billion-euros deficit on providers. General, EU-U.S. commerce in items and providers in 2023 was price 1.6 trillion euros ($1.68 trillion), in accordance the to EU.
Equipment and autos make up the most important chunk of EU exports to the U.S. by product group, adopted by chemical substances, different manufactured items and medicinal and pharmaceutical merchandise.
— CNBC’s Katrina Bishop and Amala Balakrishner contributed reporting to this story.
