EU imposes retaliatory tariffs on U.S. goods in response to steel & aluminum duties

KATHMANDU: The European Union (EU) has announced plans to impose retaliatory tariffs on U.S. goods, including steel and aluminum imports, in response to U.S. tariffs.

The EU will target U.S. products worth €26 billion ($28.3 billion), following the 25% tariffs imposed by U.S. President Donald Trump on European steel and aluminum imports.

EU President Ursula von der Leyen stated, “We are ready to engage in meaningful negotiations. I have tasked Trade Commissioner Maroš Šefčovič with restarting talks with the United States to find a fair solution. Tariffs are a tax. They harm businesses and consumers alike. These tariffs disrupt supply chains and create economic uncertainty. The EU must take steps to protect consumers and businesses. The retaliatory measures we are taking today are tough, but they are necessary.”