EU readies countermeasures against Trump tariffs targeting billions in imports - Reuters
Photo: US President Donald Trump (Getty Images)
The EU is planning to take countermeasures against the tariffs imposed by US President Donald Trump in the coming days. In response, the EU could impose tariffs on all US imports, ranging from toothbrushes to diamonds, reports Reuters.
What EU tariffs will target in response to the US
According to Reuters, the European Commission, which is responsible for EU trade policy, plans to propose a list of American goods to be subject to additional tariffs in response to the US steel and aluminum tariffs. This proposal will be made on Monday evening, April 7. The list could include meat, cereals, wine, timber, and clothing, as well as chewing gum, dental floss, vacuum cleaners, and toilet paper.
One of the most discussed items is bourbon. The European Commission has proposed a 50% tariff on it. However, in response, Trump has threatened a 200% tariff on alcohol from the EU if European countries do not abandon their plans.
EU's discussion on responding to Trump's tariffs
On Monday, Luxembourg will host the first pan-European political meeting following Trump's announcement of new tariffs. Trade ministers from all 27 EU countries will discuss the consequences of this decision and possible responses.
European diplomats say that the main goal of the meeting is to agree on a unified position. This position aims to negotiate with Washington to lift the tariffs. However, European countries are ready to implement countermeasures if no compromise is reached.
Reuters adds that there is a desire among EU member states to stand against Trump's tariffs with a united front, but opinions on the response vary. France, in particular, is calling for a broader package of measures, not just tariffs.
However, Ireland, which exports nearly a third of its goods to the US, is urging a "considered and measured" response. Italy, the third-largest EU exporter to the US, is questioning the need for countermeasures altogether.
According to the publication, the first package of EU counter-tariffs will be put to a vote on Wednesday, April 9. It is expected that it will almost certainly be approved unless a qualified majority of 15 EU member states representing 65% of the bloc's population votes against it, which is unlikely.
The measures are likely to take effect in two phases: part on April 15, with the remainder a month later.
Trump's new tariffs
On April 2, US President Donald Trump signed an executive order imposing tariffs on imports from over 180 countries. According to the document, reciprocal tariffs ranging from 11% to 48% are being introduced for specific countries, while the "default" rate of 10% will apply to the rest.
On April 4, it was reported that China announced it would impose a 34% tariff on imported American goods in addition to existing tariffs. These will take effect on April 10.
In response to US tariffs, Canada has introduced a 25% tariff on cars imported from the US.
Meanwhile, the UK has released a list of 8,000 American products that may be subject to tariffs in response to President Trump's policy.
French President Emmanuel Macron has called for halting French investments in the US.
Trump's tariff program has also affected Ukraine, with a base tariff of 10% introduced. The Ukrainian government emphasized that while this move is difficult, it is not critical.
