In a bold move to rebalance international trade, the European Union has announced counter tariffs on about 26 billion euros (roughly $28.33 billion) worth of U.S. goods. This decision comes as a direct response to the U.S. tariffs on steel and aluminium, which recently took effect and signaled a major shake-up in global trade policies.
Starting April 1, the EU will lift the current suspension on tariffs for U.S. products and introduce a two-stage series of countermeasures. These measures, which will be fully implemented by April 13, include the reimposition of previously suspended rebalancing actions from 2018 and 2020, as well as a new package of additional safeguards designed to protect European economic interests.
European Commission President Ursula von der Leyen emphasized the strategic intent behind these actions, stating that the move matches the economic scope of the U.S. tariffs and underscores the EU’s readiness to engage in meaningful dialogue. Trade Commissioner Maros Sefcovic has been tasked with resuming discussions with U.S. counterparts to explore more balanced solutions, reflecting a commitment to maintaining robust, fair trade relations.
This development is a significant reminder for young global citizens, business and tech enthusiasts, and thought leaders alike: international trade is a dynamic field where policy shifts can have profound impacts on economic trends, technological innovation, and global connectivity. As markets react and negotiations continue, stakeholders across industries will be watching closely.
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EU to impose counter tariffs on over $28 billion of U.S. goods
cgtn.com
