The EC president said that Trump’s move was a “major blow” to the world economy.The EC president said that Trump’s move was a “major blow” to the world economy.
The European Union is preparing further countermeasures against U.S. tariffs if negotiations fail, according to European Commission president Ursula von der Leyen.
U.S. President Donald Trump had imposed 20% tariffs on the bloc on Wednesday.
Von der Leyen’s comments come after retaliatory duties were announced by the bloc after the U.S. imposed tariffs on last month in a bid to protect European workers and consumers. The EU at the time said it would introduce counter-tariffs on 26 billion euros ($28 billion) worth of U.S. goods.
Previously suspended duties — which were at least partially in place during Trump’s first term as president — are set to be re-introduced alongside a slew of additional duties on further goods.
Industrial-grade steel and aluminum, other steel and aluminum semi-finished and finished products, along with their derivative commercial products, such as machinery parts and knitting needles were set to be included. A range of other products such as bourbon, agricultural products, leather goods, home appliances and more were also on the EU’s list.
Following a postponement, these tariffs are expected to come into effect around the middle of April.
This is a developing story, please check back for updates.
