The European Union’s answer was swift and firm—to retaliate against U.S. tariffs on steel and aluminum. They are pursuing very aggressive tactics to protect their interests. In response, the European Commission on Wednesday approved the first round of retaliatory measures. Beginning April 15, 2023, these measures will start collecting tariffs. This large response package especially aims to address both critical and non-critical goods, showing the EU’s determination to shield its companies and consumers from undue harm.
European Commission President Ursula von der Leyen emphasized the EU’s readiness to retaliate unless successful negotiations with the U.S. administration take place. She said, “We are ready to react,” emphasizing the geopolitical bloc’s resolve to protect its economic interests.
EU’s trade and economic security commissioner Maros Sefcovic said this week that they will start enforcing the first set of tariffs as of April 15th. A second batch of measures is scheduled to go into effect on May 15. According to the European Commission, U.S. tariffs cover around 380 billion euros of exports to the United States. That is about 70% of the total EU exports to that market.
In response, the EU has condemned the U.S. tariffs as unjustified and damaging. They contend that these tariffs are bad for the economies of both countries and bad for the global economy. We welcome the European Commission’s insistence on negotiated outcomes that are balanced and mutually beneficial.
“The EU considers US tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy. The EU has stated its clear preference to find negotiated outcomes with the US, which would be balanced and mutually beneficial.” – The European Commission
These retaliatory measures take place on the backdrop of current, already-existing tariffs. The U.S. retaliated against E.U. These tariffs were the culmination of former President Donald Trump’s 301 strategy against more than 180 different countries and territories. The EU has countered with its own red lines and threats, warning that it would respond robustly to protect its own economic interests.
President von der Leyen noted that it is “not too late to address concerns through negotiations,” highlighting the bloc’s willingness to engage with U.S. officials in hopes of reaching a diplomatic resolution.