Olusegun Ariyo
The European Union announced on Wednesday it will introduce counter-tariffs of $28 billion worth of US goods starting in April.
The aim is to match the economic impact of Washington’s latest trade restrictions.
The development comes after the US President Donald Trump’s government increased 25% tariffs on all steel and aluminium imports from the EU.
However, EU said that it would lift the current suspension of tariffs on US products from 1 April and introduce a new package of countermeasures by mid-April.
It further stated that the suspended tariffs on boats, bourbon, and motorbikes will be reinstated.
Additionally, the EU will conduct a two-week consultation to identify further US products for potential tariffs.
The proposed targets include industrial and agricultural products, steel, poultry, beef, eggs, dairy, sugar, and vegetables, aluminium, textiles, home appliances, and plastics.
“Our countermeasures will be introduced in two steps, starting on 1 April and fully in place by 13 April,” European Commission President Ursula von der Leyen said in a statement.
“We are ready to engage in meaningful dialogue. I have entrusted Trade Commissioner Maros Sefcovic to resume talks and explore better solutions with the US,” she added.
