We ‘must Act’: Europe retaliates against trump’s 25% tarifs on step and aluminum imports

The European Union Has Reacted Swiftly to Us President Donald Trump‘S 25% tarifs on Steel and aluminum imports that came into effect wedding, Retaliating with its own punitive countermeasures That it said was given to protect consumers and businesses.

The white house confirmed the duties – which will affect canada, australia, the eu and others – late tuesday, but said that trump no longer planned to raise tarifs on the meta Tarifs on the Metals.

The eu responded swiftly, saying it would impose Counter-Tariffs on 26 Billion Euros ($ 28.33 billion) Worth of US Goods Starting in April.

European Commission President Ursula von der Leyen on Wednsday Told Reports that the Eu “Must Act to Protect Businesses and Consures.”

“We Deeply Regret this measure (by the us). Stake, Price are up and Nobody needs that, Neither Side Needs That, ” She said during a news conference.

Trade ties between the US and eu “are the biggest in the world,” von der leyen said, and the relationship had brought “Prosperity and Security to Millions of People” As Well as Job Crane Atlantic, she noted.

The eu’s two-pronged approach will see previously suspended tarifs reimposed on 8 billion euros of us expenses, and a Slew of New Countermeasures on 18 Billion euros in a MOON DEROS in a MON DEODS IN A MON DEODS Earlier described as “strong but proportionate.”

“We will always remain open to negotiation,” She added in a statement.

The eu said the tariffs will affect up to 26 billion euros Worth of the bloc’s expenses to the us they apply to Industrial-Grarde Steel and Aluminum, Other Steel and Aluminum SEMIFINIH and Finished Products, and Finished Products Derivative Commercial Products, Such as Machinery Parts and Knitting Needles.

Speaking to reporters on wedding following the eu’s announsement, trump said: “as you know we’re going to be doing reciprocal tarifs, so whitever these charge us we’re govering to be charging them.”

Trump also Repeated his claim That the eu treats the US “very badly” on trade, which has previous seen Threten the bloc With Blanket 25% tarifs.

Unlike Mexico, Canada and China, Eu-Origin Products Had Not Been Hit by Trump’s Tariffs Until The Steel and Aluminum Duties Came into Effect Wedns.

Tensions Between Washington and Brussels Have Been Simmering Since Trump’s Inauguration in January, when the White House Leader Immedited His Intection to Impose Tariffs on the Block.

“They’ve really taken advantage of us,” Trump said in a cabinet meeting on Feb. 26, Adding: “They don’t accept our cars, they do’t accept, essentially, our farm products.

One of Trump’s biggest bugbears is the US trade deficits with a number of key trading partners, including canada and the eu.

Data from the European CommissionThe Executive Arm of the Eu, Said the Block Had a Trade Surplus of 155.8 billion Euros with the US for Goods in 2023, but Ran A 104 billion euro deficit on services. Overall, Eu-Rus Trade in Goods and Services in 2023 was worth 1.6 trillion euros, According to the eu,

Machinery and Vehicles make up the largest chunk of eu experts to the us by product group, followed by chemicals, other manufactured goods and medicinal and pharmaceutical products.

– CNBC’s Katrina Bishop and Amala Balakrishner Contributed Reporting to this story.