The workers of the German steel producer Saljiter AG are standing in front of a furnace at a plant at Germany on 1 March 2018.
Fabian Bimar | Roots
The European Union has rapidly responded to US President Donald Trump’s steel and aluminum imports to 25% tariffs, which came into force on Wednesday, taking vengeance with their own punitive counter-ups, that it was said that it was necessary for the protection of consumers and businesses.
The White House confirmed the duties – which will affect Canada, Australia, the European Union and others – late Tuesday, but said that Trump has no longer planned to increase tariffs on metals from Canada.
The European Union responded rapidly, stating that it would impose counter-tariffs on US goods of 26 billion euros ($ 28.33 billion) starting in April.
European Commission Chairman Ursula von Der Leyen told reporters on Wednesday that the European Union should “work for the safety of businesses and consumers.”
“We regret this remedy deeply (by the US). Tariffs are done, they are bad for business and worse for consumers, they are interrupting supply chains, they bring uncertainty for the economy, jobs are at stake, price grows and no one needs,” he said during a press conference.
The trade relations between the US and the European Union are “the largest in the world,” von dera Leyen said, and the relationship also brought employment on both sides of the Atlantic, along with “prosperity and security for millions of people”.
Before the two-dimensional approach to the European Union, suspended tariffs were re-imposed on US exports of 8 billion euros, and in a trick, a group of new counteres on 18 billion euro belongings described a group of new counteres von Der Leyen as the first “strong but proportional”.
“We will always be open for conversation,” he said in a statement.
Growing stress
European Commission Chairman Ursula von Der Leyen attended a press conference after a special summit of leaders of an European Union to discuss Ukraine and European defense in Belgium on 6 March, 2025 in Belgium.
Stephanie Lekok | Roots
Unlike Mexico, Canada and China, the European Union-original products were not killed by Trump’s tariff until it was implemented in steel and aluminum duties on Wednesday.
Stress between Washington and Brussels has been boiling since Trump’s inauguration in January, when the White House leader immediately indicated his intention to put tariffs on the block.
Trump has really taken advantage of us, “Trump said in a cabinet meeting on February.26,” They do not accept our cars, they do not accept, essentially, accept our farm products. They use all types of causes.
One of Trump’s largest Bagbars is, America’s trade deficit with many major trading partners including Canada and the European Union.
European Commission data suggests that the European Union had a trade surplus of 155.8 billion euros ($ 159.6 billion) with the US for goods in 2023, but services had a shortage of 104 billion-euros. Overall, the European Union-US trade in goods and services in 2023 was the value of 1.6 trillion euros ($ 1.68 trillion) according to the European Union.
Machinery and vehicle products create the largest part of the European Union exports in the US by the group, followed by chemicals, other manufactured goods and medicinal and pharmaceutical products.
– Katrina Bishop and Amala Balakrishner of CNBC contributed to reporting in this story.
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