Kathmandu: The European Union on Wednesday announced retaliatory tariffs on $28 billion worth of U.S. goods, hours after the Trump administration raised tariffs on all steel and aluminum imports to 25%.
The EU countermeasures target industrial and agricultural products, including motorcycles, bourbon, peanut butter, textiles, and poultry, with a focus on goods from Republican-led states. Steel and aluminum exports to Europe will also be impacted.
EU Commission President Ursula von der Leyen said the bloc remains open to negotiation but warned that tariffs will increase costs for businesses and consumers on both sides.
The American Chamber of Commerce to the EU urged both sides to de-escalate the trade dispute, warning of economic harm. The first phase of EU tariffs takes effect April 1, with additional duties on $19.6 billion in U.S. exports starting April 13.
Source: AP