Hey there, news fans! The European Union is stepping up its trade game by imposing counter tariffs on about $28 billion worth of U.S. goods. This major move comes as a response to the new U.S. tariffs on steel and aluminium which kicked in when previous exemptions and duty free quotas expired.
Starting April 1, the suspension on tariffs for U.S. products will end, making way for a fresh set of measures in two steps. European Commission President Ursula von der Leyen explained that these actions are designed to match the economic scope of the U.S. tariffs, with full implementation expected by April 13.
As part of this strategy, the EU will reintroduce previously suspended rebalancing measures from 2018 and 2020, along with additional countermeasures. Trade Commissioner Maros Sefcovic has been tasked with resuming talks with U.S. counterparts to explore better solutions, showing that dialogue is still on the table. 🚀
This unfolding trade showdown feels like a real-life economic thriller—imagine a plot straight out of a blockbuster film, but with global market stakes. Stay tuned for further updates as this trade drama continues to evolve. ✨
Reference(s):
EU to impose counter tariffs on over $28 billion of U.S. goods
cgtn.com
