EU Announces Countermeasures to US Tariffs

European Commissioner for Trade and Economic Security, Maros Sefcovic, has confirmed that the European Union will implement its first package of countermeasures against United States tariffs on April 15, following a vote on April 9. A second phase of measures is scheduled for May 15. Sefcovic emphasized the urgency of the EU's response, highlighting the unity among trade ministers from member states during recent discussions.

Details of the EU's Response

The US tariffs impact approximately 70% of EU exports, valued at €380 billion. Despite this significant figure, the EU is not pursuing a tit-for-tat strategy. Sefcovic assured that "all options" are being considered, with consultations planned with stakeholders and member states to explore all available tools. He also dismissed any notions of altering the EU's value-added tax (VAT) system, which the US administration has criticized as a barrier to its exports.