Latest news with #countermeasures
South China Morning Post
3 days ago
- Business
- South China Morning Post
EU ‘strongly regrets' Trump's steel tariff increase, threatens countermeasures
The European Union on Saturday spoke out against US President Donald Trump's latest tariff announcement regarding steel imports – and threatened a response before the summer. 'We strongly regret the announced increase of US tariffs on steel imports from 25 per cent to 50 per cent,' said a spokesman for the European Commission in Brussels, which is responsible for EU trade policy. 'This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic.' The EU was ready to take countermeasures, the statement continued. This could also happen earlier than July 14. As things currently stand, EU counter-tariffs already planned due to Trump's initial tariff decisions would automatically come into force on this date. The bloc had wanted the measures to come into force on April 14, but held back after Trump granted many countries and the EU a 90-day pause from certain tariffs.
Al Arabiya
3 days ago
- Business
- Al Arabiya
EU Commission ‘strongly' regrets announced increase in US steel tariffs
The European Commission said on Saturday that it 'strongly' regrets an announced increase of US tariffs on steel imports and that the EU is prepared to impose countermeasures. US President Donald Trump said on Friday he planned to increase tariffs on imported steel and aluminum to 50 percent from 25 percent, putting more pressure on global steel producers and deepening his trade war. 'We strongly regret the announced increase of US tariffs on steel imports from 25 percent to 50 percent,' a European Commission spokesperson said in an emailed statement. 'This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic,' the spokesperson said, adding that 'the tariff increase also undermines ongoing efforts to reach a negotiated solution.' The spokesperson noted that the European Union had paused its countermeasures to create space for continued negotiations. 'The EU is prepared to impose countermeasures, including in response to the latest US tariff increase,' the spokesperson said. 'The European Commission is currently finalizing consultations on expanded countermeasures. If no mutually acceptable solution is reached, both existing and additional EU measures will automatically take effect on 14 July — or earlier, if circumstances require,' they added.
Yahoo
08-05-2025
- Business
- Yahoo
Factbox-What items are in the EU's new response measures to Trump tariffs?
By Julia Payne BRUSSELS (Reuters) - The European Commission opened a public consultation on Thursday on products which could be hit by its new counter-measures to U.S. tariffs should negotiations with Washington fail. The Commission has compiled a list of imported products worth 95 billion euros ($107.24 billion) and a list of EU exports to the U.S. worth 4.4 billion euros ($4.97 billion), including scrap metal, which could be subject to export duties. The Commission did not include possible tariff levels. The public consultation ends June 10. The Commission will go through responses and formulate a final product list by end-June or early July. U.S. President Donald Trump paused the start of reciprocal tariffs by 90 days to July 8. The list is predominantly industrial goods. Here is a breakdown of the major U.S. imports which could be targeted: SECTORS VALUE Aircraft 10.5 billion euros ($11.29 products billion) includes safety glass, tyres and engine parts Motor vehicles 10.3 billion euros ($11.63 products billion) Motor vehicles 2 billion euros ($2.26 billion) Alcohol 1.3 billion euros ($1.47 billion) such as wine, bourbon, whisky Agri-food 6.4 billion euros ($7.22 billion) Fish 0.5 billion euros ($564.40 million) Electrical 7.2 billion euros ($8.13 equipment billion) Machinery 12 billion euros ($13.55 billion), such as harvesting and milking machines Health related 10 billion euros ($11.31 products (not billion), such as needles and pharma) catheters Plastics 12.9 billion euros ($14.59 billion), includes a range of polymers such as polystyrene and acetate AGRI-FOOD DETAILS * Processed foods, eggs, nuts, cocoa products like chocolate, fresh vegetables and fruit, animal parts like offal and bovine semen * Oils and grains, and their related products such as sowing seeds, rolled oats, cereals, flours and buckwheat * Plants and bulbs including tulips, trees and shrubs OTHER IMPORTS * Additional health products include syringes, ultrasound machines, artificial joints and daily use items such as tampons, combs and cosmetic brushes * 200 million euros ($225.76 million) worth of batteries * Live animals such as whales, parrots and ostriches * niche items like opium used to make pain relief medicines, musical instruments, and sports equipment like tennis rackets, golf clubs and fishing rods EU EXPORTS TO U.S. * EU is considering export duties on the following goods: ferrous waste and scrap (iron or steel), aluminium waste and scrap, toluidines, enzymes and odiferous substances used in the food and drink industry WHAT IS NOT INCLUDED * The EU has not included lumber, copper, pharmaceuticals and critical raw materials as Trump is still expected to make more targeted tariff announcements in these areas ($1 = 0.8859 euros)
Reuters
08-05-2025
- Business
- Reuters
What's in the new EU list of possible U.S. tariff counter-measures
BRUSSELS, May 8 (Reuters) - The European Commission has opened a public consultation on Thursday on products which could be hit by new counter-measures to U.S. reciprocal tariffs should negotiations with Washington fail. The Commission has compiled a list of imported products worth 95 billion euros ($107.24 billion) and a list of EU exports to the U.S. worth 4.4 billion euros ($4.97 billion), including scrap metal, which could be subject to export duties. The Commission did not include possible tariff levels. The public consultation ends June 10. The Commission will go through responses and formulate a final list by end-June or early July. The list is predominantly industrial goods. Here is a breakdown of the major U.S. imports which could be targeted: AGRI-FOOD DETAILS * Processed foods, eggs, nuts, cocoa products like chocolate, fresh vegetables and fruit, animal parts like offal and, bovine semen * Oils and grains, and their related products such sowing seeds, rolled oats, cereals, flours and buckwheat * Plants and bulbs including tulips, trees and shrubs OTHER IMPORTS * 200 million euros ($225.76 million) worth of batteries * 1.3 billion euros ($1.47 billion) worth of alcohol such as wine * Live animals such as whales, parrots and ostriches as well as more niche items like opium and sports equipment like tennis rackets, golf clubs and fishing rods EU EXPORTS TO U.S. * EU is considering export duties on the following goods: ferrous waste and scrap (iron or steel), aluminium waste and scrap, toluidines, enzymes and, odiferous substances used in the food and drink industry ($1 = 0.8859 euros)
Al Arabiya
07-05-2025
- Business
- Al Arabiya
EU to set out next countermeasures against US tariffs on Thursday, EU trade chief says
The European Commission will announce on Thursday details of its plan for countermeasures against US tariffs should negotiations with Washington fail, European Trade Commissioner Maros Sefcovic said on Thursday. 'Tomorrow we will announce next preparatory steps, both in the area of possible rebalancing measures, and also in the areas important for the further discussions,' Sefcovic told a news conference in Singapore after the signing of a digital trade agreement with that southeast Asian country.
