The European Union has decided to impose trade restrictions on US goods worth about 21 billion euros in response to Donald Trump's 25% US tariffs on European steel and aluminum, Bloomberg reports.
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What is known
EU countries unanimously supported the European Commission's proposal. The first stage of duties will begin on April 15 after formalities are completed and the decision is published. The target is goods from states that are key for American politicians, in particular Louisiana, the home of House Speaker Mike Johnson. The list includes agricultural products, diamonds, motorcycles and soybeans.
Schedule and rates
Customs duties are divided into three phases: beginning on April 15, the second wave in mid-May, and the last one on December 1. Most goods will be subject to a 25% tariff, some – 10%.
Door for dialogue
The European Commission noted: “These countermeasures can be stopped at any time if the US agrees to a fair and balanced outcome of the negotiations.” Thus, the EU leaves room for compromise, but is ready to act decisively.