In response to unjustified US tariffs on EU steel and aluminium imports, the European Commission has launched countermeasures on US imports. The Commission regrets the US decision, which it views as disruptive to transatlantic trade and harmful to businesses and consumers, often resulting in higher prices.
“The trade relations between the European Union and the US are the biggest in the world. They have brought prosperity and security to millions, and trade has created millions of jobs on both sides of the Atlantic. As of this morning, the United States is applying a 25% tariff on steel and aluminium imports. We deeply regret this measure. Tariffs are taxes. They are bad for business, and even worse for consumers. These tariffs are disrupting supply chains. They bring uncertainty to the economy. Jobs are at stake. Prices will go up. In Europe and in the United States. The European Union must act to protect consumers and business,” the Commission’s President, Ursula von der Leyen, said.
The response includes a two-step approach: first, suspending existing countermeasures from 2018 and 2020 against the US, which will end on 1 April, targeting US products in retaliation for harm to €8 billion in EU exports. Second, in reaction to new US tariffs affecting over €18 billion of EU exports, the Commission proposes new countermeasures on US exports, potentially covering a total of €26 billion.
“The countermeasures we take today are strong but proportionate. As the US are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth €26 billion. This matches the economic scope of the US tariffs. Our countermeasures will be introduced in two steps. Starting with 1 April and fully in place as of 13 April. In the meantime, we will always remain open to negotiation. We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs. We are ready to engage in meaningful dialogue. I have entrusted Trade Commissioner Maroš Šefčovič to resume his talks to explore better solutions with the US,” added Ursula von der Leyen.
The EU is willing to work with the US on a negotiated solution, and the measures can be reversed if an agreement is reached. A two-week stakeholder consultation will run until 26 March, after which the Commission will finalize the countermeasure proposal and consult with Member States. The legal act imposing these countermeasures is expected to be in place by mid-April.
