EU Announces Countermeasures Against US Tariffs

The European Commission has unanimously agreed to implement trade countermeasures targeting the United States, affecting a staggering €21 billion in US imports. These measures are set to commence on April 15, marking a significant escalation in the ongoing trade dispute between the two economic giants.

Details of the EU's Response

In a bold statement, the European Commission criticized the US tariffs as "unjustified and damaging," highlighting the adverse effects on both economies and the global market. The EU remains open to negotiations, advocating for a solution that benefits all parties involved.

Implementation Timeline and Product Impact

The tariffs will be rolled out in phases, with additional waves scheduled for mid-May and December 1. Products will face varying rates, with some subjected to a 25% duty and others a 10% levy. Notably, Bourbon whiskey was exempted to prevent retaliatory measures on EU alcohol exports.

Flexibility for Resolution: The EU has indicated that these measures could be rescinded if the US agrees to a "fair and balanced" trade agreement.