The European Union (EU) announced the introduction of response measures in the amount of 26 billion euros after the United States introduced additional tariffs for the import of steel and aluminum.
The statement of the European Commission says that the US new duties for metallurgical products are “unfounded”, so Brussels takes “quick and commensurate” measures in response.
The EU believes that American tariffs will undermine transatlantic trade, create additional costs for business and consumers, and will also lead to price growth.
It is reported that the European Commission intends to act in stages.
Already on April 1, retaliatory restrictions will come into force, which will affect American goods in the amount of 8 billion euros.
The second wave of trade restrictions in the amount of more than 18 billion euros will begin to operate on April 13.
In total, the EU response will cover imports from the United States in the amount of 26 billion euros, which corresponds to the alleged damage from new American tariffs.
Brussels emphasizes that it is open for negotiations and is ready to cancel response measures if the parties find a mutual acceptable solution.
However, in the absence of EU agreements, it will continue to impose sanctions against American exports.
New 25 percent tariffs of the USA for steel imports and aluminum entered into force on March 12.