EU ramps up trade war with counter-tariffs on US goods
The European Union will impose counter tariffs on 26 billion euros ($A45 billion) worth of US goods from April, the European Commission says, ramping up a global trade war in response to blanket US tariffs on steel and aluminium.
The EU executive said, however, that it remained open to negotiations and considered higher tariffs in no one's interest, while the UK called the US move "disappointing" and vowed to keep its retaliation options open.
US President Donald Trump's increased tariffs of 25 per cent on all steel and aluminium imports took effect on Wednesday as prior exemptions, duty free quotas and product exclusions expired.
We deeply regret this US tariffs imposed on Europe.Tariffs are taxes.They are bad for business, and even worse for consumers.Today Europe takes strong but proportionate countermeasures.We remain ready to engage in dialogue ↓ pic.twitter.com/nC0kDYRkfA
— Ursula von der Leyen (@vonderleyen) March 12, 2025
The European Commission said it would end its suspension of tariffs on US products on April 1 and its tariffs would be fully in place by April 13.
"The countermeasures we take today are strong but proportionate. As the United States are applying tariffs worth $US28 billion ($A45 billion) we are responding with countermeasures worth 26 billion euros," European Commission chief Ursula von der Leyen told reporters.
"The EU must act to protect its consumers and business."
Trump said his taxes would help create US factory jobs, but von der Leyen said: "Jobs are at stake. Prices will go up. In Europe and in the United States."
"Tariffs are taxes. They are bad for business, and even worse for consumers."
The suspended tariffs apply to products ranging from boats to bourbon to motorbikes, and the EU said it would now start a consultation to pick other product categories.
The new measures will target about 18 billion euros in goods, with the overall objective to ensure the total value of the EU measures corresponded to the increased value of trade affected by the new US tariffs, the EU said.
"In the meantime we will always remain open to negotiations," von der Leyen said.
"We firmly believe that in a world fraught with geo-economic and political uncertainties, it is not in our common interest to burden our economies with such tariffs. We are ready to engage in a meaningful dialogue."
The proposed target products include industrial and agricultural products, such as steel and aluminium, textiles, home appliances, plastics, poultry, beef, eggs, dairy, sugar and vegetables.
In Britain, which is no longer in the EU, Trade Secretary Jonathan Reynolds said he was disappointed by the tariff hikes while adding the UK was negotiating a wider economic agreement with the US.
"I will continue to engage closely and productively with the US to press the case for UK business interests," Reynolds said, adding the UK would keep all options open and not hesitate to respond in the national interest.
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