EU Set to Counter Trump's Tariffs with New Trade Measures

The European Union prepares to approve its first countermeasures against U.S. President Donald Trump's tariffs. This move aligns the EU with China and Canada in retaliation, potentially escalating into a global trade war. The EU plans to impose extra duties on U.S. imports, totaling 21 billion euros.

The European Union is gearing up to implement its first countermeasures against the tariffs imposed by U.S. President Donald Trump. The collective response by the EU aims to join forces with China and Canada in a retaliatory stance, potentially intensifying towards a global trade confrontation.

Trump's reciprocal tariffs, which include a hefty 104% duty on Chinese imports, have begun creating ripples in the financial markets. EU members face an array of levies under Trump's strategy, which targets countries with high trade barriers against U.S. imports.

In response, the European Commission has proposed additional duties of up to 25% on selected U.S. imports, including motorcycles and clothing. This measure seeks to counteract the impact of U.S. tariffs on EU metals exports. The proposal is set for voting, with implementation slated for phased stages, beginning mid-April.

(With inputs from agencies.)