The European Union approved tariffs to hit around €21 billion ($23.2 billion) of US goods in retaliation for the 25% duties President Donald Trump imposed last month on the bloc’s steel and aluminum exports.
A majority of the EU’s 27 member states on Wednesday voted in favor of the penalties, some of which will start taking effect in mid-April. The tariffs will target politically sensitive American states and include products such as soybeans from Louisiana, home to House Speaker Mike Johnson, as well as diamonds, agricultural products, poultry and motorcycles.
The European Commission, the bloc’s executive arm, said in a statement that the countermeasures can be suspended at any time “should the US agree to a fair and balanced negotiated outcome.”
The move adds to the growing transatlantic trade war, with the US also having applied a universal 20% tariff on nearly all European exports as well as a separate 25% duty on cars and some auto parts. Trump has said he’ll announce additional tariffs on lumber, semiconductor chips and pharmaceutical products. All of Trump’s new tariffs are hitting around €380 billion of EU goods.
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"La richesse est comme l’eau salée : plus on en boit, plus on a soif." – Arthur Schopenhauer