The European Union has announced retaliatory trade action against the United States with new duties on U.S. industrial and farm products. This comes in response to the Trump administration’s increase in tariffs on all steel and aluminum imports to 25%. The EU measures will cover goods from the U.S. worth 26 billion euros and will target products such as motorcycles, bourbon, peanut butter, and jeans, aiming for pressure points in the U.S. economy while minimizing damage to Europe. European Commission President Ursula von der Leyen stated that the EU remains open to negotiations, but will implement countermeasures worth 26 billion euros in response to the U.S. tariffs. The American Chamber of Commerce to the EU urged both sides to de-escalate and find a negotiated outcome. European steel companies are bracing for losses, with expectations that the EU could lose up to 3.7 million tons of steel exports, as the U.S. is the second biggest export market for EU steel producers. The EU estimates that the annual trade volume between the EU and the U.S. stands at about $1.5 trillion. Despite the tensions, Britain, which is not part of the EU, stated that it will not impose retaliatory measures on the U.S.
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