On Wednesday, the European Union announced retaliation with new duties in American industrial and agricultural products, responding within a few hours to the increase in Trump's administration tariffs to the import of steel and aluminum to 25 percent.
The world's largest commercial block was the waiting of American tariffs and preparing earlier, but the funds are still burdened with tense transatlantic relations. It wasn't until last month Washington warned Europe that it would have to deal with her own security in the future.
EU funds will include goods from the United States worth around EUR 26 billion ($ 40 billion CDN) – not just steel and aluminum products. Fabrics, household appliances, agricultural goods will be hit by tariffs, like motorcycles, bourbon, peanut butter and jeans, of which the latter were also taxed during the first term of the US President Donald Trump.
The EU duties are aimed at pressure points in the US, while minimizing additional damage in Europe. Tariffs-imports from imports-all focused on Republican countries, hitting soy at the speaker of the houses of Mike Johnson in Louisiana, as well as beef and poultry in Kansas and Nebraska. The list includes products in Alabama, Georgia and Virginia.
The European Commission, which manages commercial and commercial conflicts on behalf of 27 EU member states, said that leather products and agricultural products outside of beef and poultry will be hit, including some seafood, nuts, nuts, eggs, sugar and vegetables.
Tariffs “Not in our common interest”
The President of the European Commission Ursula von der Leyen said in a statement that the block “will always remain open to negotiations.”
“Because the United States use tariffs worth $ 28 billion, we respond to remedies worth EUR 26 billion,” she said. “We strongly believe that in a world full of geopolitical and economic uncertainty it is not in our common interest to burden our economies with tariffs.”
Prime Minister Justin Trudeau met with the head of NATO and the EU officials in Brussels, hoping to increase commercial and political ties when Canada looks at a possible trade war with the United States.
Trump said his taxes would help create American factory works, but von der Leyen said: “jobs are at stake. Prices will rise. In Europe and the United States. “
“We deeply regret this measure. Tariffs are taxes. They are bad for business, and even worse for consumers. These tariffs disrupt supply chains. The uncertainty of the economy, “she said.
The American Chamber of Commerce for the EU said that American tariffs and EU remedies “will only harm jobs, prosperity and safety on both sides of the Atlantic.”
“Both sides must de-make and urgently find the negotiated result,” said the chamber on Wednesday.
Repetition of Trump's first term
Trump hit Similar tariffs on the EU Steel and aluminum during the first term, which enraged European and other allies. At that time, the EU also applied antidetators.
This time, the EU action will take two steps. First, on April 1, the Commission will restore what it calls “balancing measures” that the EU had since 2018 and 2020, but then was suspended under the Biden administration. Then, on April 13, additional obligations arise focused on 18 billion euros ($ 19.6 billion) of exports in the US to the block.
Many visible shifts from the US President Donald Trump gave both society and Canada politicians when they try to navigate the ongoing trade war. A political commentator, the author and speech of former President George W. Bush, David Frum, stops through power and politics to think about the potential permanent damage to Canada-Zastos's relationship and considers what he thinks can take place in Trump's head.
Maros Sefcovic, EU trade commissioner, went to Washington last month, trying to relate a tariff, meeting the Secretary of American trade Howard Lutnicki and other best trade officials.
He said on Wednesday that during the journey it became clear that the EU was not a problem. “
“I argued to avoid the unnecessary burden of remedies, but you need a partner for this. You need both hands to clap, “Sefcovic told reporters in the European Parliament in Strasbourg, France.
European steel companies are preparing losses
According to European Steel Association, EUE may lose up to 3.7 million tons of steel exports. The United States is the second largest export market for EU steel producers, which is 16 percent of the total EU steel export.
The EU estimates that the annual commercial volume between both parties is about $ 1.5 trillion of USA, which is about 30 percent of global trade. Although the block has a significant surplus of the export of goods, it says that it is partly compensated by the US surplus in service trade.
Meanwhile, the United Kingdom, which is not part of the EU, said that she did not impose its own retaliation
Minister of Finance Dominic Leblanc, Minister of Foreign Affairs Mélan Jola and Minister of the François-Shippe Champagne industry will present how Canada intends to answer the tariffs on Canadian steel and aluminum imposed by US President Donald Trump.