European Union countries are seeking a unified response in the coming days to US President Donald Trump’s tariffs, and are likely to agree on a first set of countermeasures targeting up to $28 billion in US imports.
This move would see the EU join China and Canada in imposing countermeasures on the United States in a rapid escalation of what some fear could spiral into a global trade war, making goods more expensive for billions of consumers and tipping economies worldwide into recession.
25% Countermeasures
The 27-member bloc faces 25% tariffs on steel, aluminum, and car imports, and 20% “countermeasures” effective Wednesday on virtually all other goods.
Trump’s tariffs affect about 70% of EU exports to the United States, which totaled €532 billion ($585 billion) last year, with potential tariffs on copper, pharmaceuticals, semiconductors, and timber.
List of US Products
The European Commission, which coordinates EU trade policy, will propose to members on Monday evening a list of US products that will be subject to additional tariffs in retaliation for Trump’s steel and aluminum tariffs, rather than broader counter-tariffs.
The EU, whose economy relies heavily on free trade, is keen to ensure broad support for any response to maintain pressure on Trump to eventually enter negotiations.
First Political Meeting
Luxembourg will host the first EU-level political meeting since Trump announced the comprehensive tariffs on Monday, where trade ministers from EU member states will exchange views on the impact and how best to respond.
EU diplomats said the main goal of the meeting was to deliver a unified message about the willingness to negotiate with Washington on eliminating tariffs, and the readiness to respond with countermeasures if that fails.
