EU Announces Countermeasures to US Tariffs

European Commissioner for Trade and Economic Security, Maros Sefcovic, confirmed on Monday that the European Union is set to implement its first package of countermeasures against United States tariffs on April 15, following a vote scheduled for April 9. A second phase of measures is planned for May 15. Sefcovic emphasized the urgency of the EU's response, stating it "cannot be delayed," and highlighted the unity among trade ministers from member states during today's meeting.

Details of the EU's Strategic Response

Sefcovic pointed out that the US tariffs affect approximately 70% of EU exports, valued at €380 billion. However, the EU aims to avoid a direct "dollar for dollar" retaliation strategy. Instead, the Commission is exploring all available options and will consult with stakeholders and member states to utilize "all the instruments at our disposal." Importantly, Sefcovic reaffirmed the EU's commitment to maintaining the current value-added tax (VAT) system, dismissing the Trump administration's view of VAT as a "non-tariff barrier" to US exports.