EU Strikes Back: Counter Tariffs on U.S. Goods Amid Trade Tensions

The European Union is set to impose counter tariffs on $28 billion worth of U.S. goods in response to U.S. tariffs on steel and aluminum. The EU remains open to negotiations, aiming for a dialogue amid international trade tensions.

The European Union announced plans to impose tariffs on $28 billion worth of U.S. goods starting next month, as a direct response to the U.S. tariffs on steel and aluminum. This move intensifies the ongoing global trade war.

The European Commission, while open to negotiations, stressed that higher tariffs are undesirable. U.S. President Donald Trump had earlier imposed a 25% tariff on steel and aluminum imports, ending prior exemptions.

The EU's counter tariffs will take full effect by April 13. They seek to match the U.S. tariffs in value, covering products such as boats, bourbon, and motorbikes. The EU also plans a consultation to decide on additional targeted products.

(With inputs from agencies.)