EU to impose $28b counter-tariffs on US goods

KABUL (Pajhwok): In retaliatory move, the European Union will slap counter tariffs on $28 billion worth of US goods with effect from April.

The European Commission made the announcement on Wednesday, the day US President Donald Trump’s 25 percent tariffs on all steel and aluminium imports took effect.

According to Reuters, the European Commission will end the suspension of tariffs on US products on April 1 and unveil new countermeasures on US goods by the middle of the next month.

In a statement, the European Commission president said: “Our countermeasures will be introduced in two steps. Starting with April 1 and fully in place as of April 13,”

Ursula von der Leyen added: “We are ready to engage in meaningful dialogue. I have entrusted Trade Commissioner Maros Sefcovic to resume his talks to explore better solutions with the US.”

The measure raises a flat duty on steel and aluminium entering the US to 25% and ends all country exemptions to the levies

Trumps has slapped separate 25 percent tariffs on other imports from Mexico and Canada, exempting carmakers and some other goods.

PAN Monitor/mud