The European Union is set to impose a 25% tariff on US goods worth €22 billion, in retaliation for tariffs introduced by the United States in March on EU aluminum and steel exports.
The majority of the EU’s 27 member states supported the decision, with the new tariffs expected to take effect in mid-April. The targeted goods include aluminum, steel, tobacco, almonds, orange juice, soybeans, poultry, and yachts. However, due to strong opposition from France and Ireland, American bourbon was removed from the final list.
This is the EU’s first wave of countermeasures following the White House’s decision to introduce tariffs on €26 billion worth of EU aluminum and steel. Former President Donald Trump had also announced a 25% tariff on EU cars and a 20% tariff on various other products.
The European Commission is now preparing a second phase of retaliatory tariffs, with further details expected to be released next week.
