European Union member states have approved their first package of retaliatory measures in response to U.S. tariffs imposed by U.S. President Donald Trump. The European Commission described these tariffs as "unjustified and damaging, causing economic harm to both sides, as well as the global economy," a sentiment that underscores the urgency behind the bloc's decision.
The new countermeasures, set mostly at a 25 percent rate, target a wide array of U.S. imports including agricultural staples such as soybeans, poultry, and tobacco as well as industrial products like iron, motorcycles, dental floss, and metals. In total, these goods accounted for around 22 billion euros last year.
The retaliatory duties will be introduced in three stages. The first phase, affecting items like cranberries and orange juice, comes into effect on April 15. A second round, covering products such as steel, meat, white chocolate, and polyethylene, will follow on May 16. Finally, a last phase targeting almonds and soybeans is scheduled for December 1.
The European Commission reiterated its preference "to find negotiated outcomes with the U.S., which would be balanced and mutually beneficial." It emphasized that the countermeasures could be suspended at any time if a fair and balanced negotiated resolution is reached.
This decisive move highlights the EU's commitment to safeguarding its economic interests while keeping open the door for future negotiations to restore equilibrium in international trade.
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EU approves initial retaliatory measures against U.S. tariffs
cgtn.com
