The European Union has taken a bold step by approving its first package of retaliatory tariffs against U.S. imports. In response to the tariffs on steel and aluminum, EU member states backed measures that target a range of products, aiming to address what they call unjustified and damaging policies. ⚖️
The European Commission proposed a series of duties mostly set at 25%. The list of targeted goods spans a variety of sectors—from agricultural products like soybeans, cranberries, and orange juice, to industrial items such as steel, aluminum, iron, and even quirky products like dental floss and white chocolate.
This countermeasure is set in motion in three phases. The first round, effective April 15, will hit items including cranberries and orange juice. The second phase, coming on May 16, targets goods such as steel, meat, white chocolate and polyethylene. Finally, the last phase, scheduled for December 1, will focus on almonds and soybeans. These steps affect U.S. imports that totaled around 22 billion euros last year.
The European Commission emphasized its preference for negotiation, stating that these measures could be suspended if the U.S. agrees to a fair and balanced outcome. It’s a high-stakes trade drama that reminds us how interconnected and delicate global economics can be. Stay tuned as this story unfolds—it’s like a live episode of a global trade thriller! 🌍✨
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EU approves initial retaliatory measures against U.S. tariffs
cgtn.com
