The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.
The EU executive said, however, that it remained open to negotiations and considered higher tariffs in no one's interest.
U.S. President Donald Trump's increased tariffs of 25% on all steel and aluminium imports took effect on Wednesday as prior exemptions, duty free quotas and product exclusions expired.
The European Commission said it will end its current suspension of tariffs on U.S. products on April 1 and that its tariffs will be fully in place by April 13.
"The counter measures we take today are strong but proportionate. As the United States are applying tariffs worth $28 billion we are responding with counter measures worth 26 billion euros," European Commission chief Ursula von der Leyen told reporters.
"The EU must act to protect its consumers and business."
The suspended tariffs apply to products ranging from boats to bourbon to motorbikes, and the EU said it would now start a two-week consultation to pick other product categories.
The new measures will target around 18 billion euros in goods, with the overall objective to ensure that the total value of the EU measures corresponds to the increased value of trade impacted by the new U.S. tariffs, the EU said.
"In the meantime we will always remain open to negotiations," von der Leyen said.
"We firmly believe that in a world fraught with geoeconomic and political uncertainties, it is not in our common interest to burden our economies with such tariffs. We are ready to engage in a meaningful dialogue."
The proposed target products include industrial and agricultural products, such as steel and aluminium, textiles, home appliances, plastics, poultry, beef, eggs, dairy, sugar and vegetables.
Chinese Foreign Minister Wang Yi on Wednesday called on the European Union to strengthen trust and cooperation with China, saying the two sides should focus on mutual success rather than rivalry.
EU Council President Antonio Costa celebrated the 40th anniversary of Portugal's EU accession, hailing it as the catalyst for the nation's most significant period of social and economic development and a testament to European solidarity.
Kazakhstan and the European Union are bolstering their economic partnership, with a recent high-level meeting paving the way for expanded collaboration in trade, investment, and sustainable development.
The European Union and India reaffirmed their commitment to collaboration in third countries today, marking the start of a new phase in development cooperation.
Negotiations between China and the European Union regarding electric vehicle price commitments are in their final stages, although both sides acknowledge that further efforts are required to reach a resolution.
Greek firefighters are battling a large wildfire south of Athens as the country faces its first major heat wave of the summer, with temperatures nearing 40°C and strong winds fuelling the flames.
At least 29 students were killed and more than 250 injured in a stampede at Barthelemy Boganda High School in Bangui, the capital of the Central African Republic, authorities confirmed Thursday.
China’s Defence Minister Dong Jun has urged member states of the Shanghai Cooperation Organization (SCO) to push back collectively against what he called “hegemonic behaviour”, as defence ministers met for their annual summit in the eastern Chinese city of Qingdao.
European Union leaders renewed economic sanctions on Russia for another six months on Thursday and reviewed the latest U.S. trade proposals during a summit in Brussels.
US President Donald Trump said Thursday that Washington signed a trade agreement with China the previous day, though no details of the deal have been made public.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
Wizz Air has suspended all flights to and from Tel Aviv, Israel, and its European services to Amman, Jordan, effective immediately until 15 September due to escalating situation in the Middle East. Also, the air carrier temporarily suspended its flights between Astana, Kazakhstan, and Abu Dhabi.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
Shell has denied reports that it is in talks to acquire BP in a historic £60 billion deal, despite ongoing market speculation about a potential merger between the two oil giants.
Universal’s new theme park in Bedford, UK has secured a government support package worth around £500 million ($686 million) for rail and road upgrades, as part of a wider package to boost infrastructure ahead of the park’s planned 2031 opening.
Australia will not raise its defence spending targets despite pressure from U.S. President Donald Trump, choosing instead to follow its own military strategy, Defence Minister Richard Marles said on Thursday.
Bitcoin and other cryptocurrencies regained value following a ceasefire between Israel and Iran, bouncing back after steep losses during the 12-day conflict.
Tesla’s new car sales in Europe plunged 27.9% in May, even as the region saw a major rise in demand for electric vehicles, data from the European Automobile Manufacturers Association (ACEA) showed.
Greek firefighters are battling a large wildfire south of Athens as the country faces its first major heat wave of the summer, with temperatures nearing 40°C and strong winds fuelling the flames.
At least 29 students were killed and more than 250 injured in a stampede at Barthelemy Boganda High School in Bangui, the capital of the Central African Republic, authorities confirmed Thursday.
China’s Defence Minister Dong Jun has urged member states of the Shanghai Cooperation Organization (SCO) to push back collectively against what he called “hegemonic behaviour”, as defence ministers met for their annual summit in the eastern Chinese city of Qingdao.
European Union leaders renewed economic sanctions on Russia for another six months on Thursday and reviewed the latest U.S. trade proposals during a summit in Brussels.
US President Donald Trump said Thursday that Washington signed a trade agreement with China the previous day, though no details of the deal have been made public.
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