Tensions Rise: EU Hits U.S. with Landmark Tariffs

Initial retaliatory duties ranging from 10% to 25% on U.S. imports were agreed by EU member states on Wednesday. According to the European Commission, these tariffs will be put into effect the following week.

In addition to the removal of American-made whiskey and other alcoholic beverages from the commission's proposed list, this also includes special levies on American-made goods like jeans and motorcycles.

Additional counter-tariffs, which will impact goods like beef, poultry, and citrus fruits like oranges and grapefruit, are scheduled to be applied in mid-May and at the end of the year.

Early in December, more levies on soybeans and nuts are anticipated.

The U.S. tariffs on steel and aluminum imports that were put in place almost a month ago are being addressed by the levies that were passed on Wednesday.

The EU estimates that the U.S. actions impact exports valued at 26 billion euros (28.8 billion dollars).
According to EU sources, the items targeted by Brussels' actions are valued at almost 21 billion euros.
Instead of intensifying the trade conflict, the EU has emphasized that it prefers to engage in negotiations.

In response to President Donald Trump's more recent announcement of tariffs on automobiles and nearly all other EU exports to the United States, work is still ongoing on a new set of measures.

In addition to partially offsetting tax cuts he pledged during his election campaign, Trump's tariff policy seeks to address purported trade imbalances and move production to the United States.