EU fights back against US trade taxes with $28B plan

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The European Union has announced retaliatory measures against U.S. tariffs, planning to implement countermeasures starting April 1 in response to the U.S. administration’s decision to raise steel and aluminum import tariffs to 25%.

“As the US are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros ($28 billion),” European Commission President Ursula von der Leyen said in a statement.

The European Union on Wednesday announced retaliatory countermeasures after the Trump administration officially increased tariffs on all steel and aluminum imports to 25 percent, with duties on industrial and agricultural products going into effect starting April 1. pic.twitter.com/EDNvlzbQQQ

— CGTN (@CGTNOfficial) March 12, 2025

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The European Commission, which oversees trade disputes for its 27 member states, has outlined a comprehensive response to the U.S. tariffs.

“We will always remain open to negotiation. We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with retaliatory measures,” von der Leyen said.

Ontario is imposing a 25 per cent surcharge on all U.S.-bound electricity as part of its retaliatory measures against U.S. President Donald Trump's tariffs on Canadian goods. https://t.co/r91o2LXiS3

— CBC News (@CBCNews) March 10, 2025

The EU’s retaliatory measures will target a diverse range of U.S. products. Beyond matching the steel and aluminum tariffs, the EU plans to impose duties on various consumer goods, including textiles, leather products, household appliances, tools, plastics, and wood products.

The impact will extend to the agricultural sector as well, with new tariffs affecting American poultry, beef, select seafood products, nuts, eggs, sugar, and various vegetables.