The European Union will impose counter tariffs on $28 billion (€26 billion) worth of US goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket US tariffs on steel and aluminum.
US President Donald Trump’s increased tariffs of 25 percent on all steel and aluminum imports took effect on Wednesday as prior exemptions, duty free quotas and product exclusions expired.
The European Commission said it will end the current suspension of tariffs on US products on April 1 and will also put forward a new package of countermeasures on US goods by mid-April.
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 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 US tariffs, the EU said.
The proposed target products include industrial and agricultural products, such as steel and aluminum, textiles, home appliances, plastics, poultry, beef, eggs, dairy, sugar and vegetables.
“Our countermeasures will be introduced in two steps. Starting with 1 April and fully in place as of 13 April,” Ursula von der Leyen, the president of the European Commission, said in a statement.
“We are ready to engage in meaningful dialogue. I have entrusted Trade Commissioner Maros Sefcovic to resume his talks to explore better solutions with the US,” von der Leyen added.
EU to impose counter tariffs on $28 billion in US goods
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EU to impose counter tariffs on $28 billion in US goods
- The European Commission will also put forward a new package of countermeasures on US goods by mid-April
- The proposed target products include industrial and agricultural products such as steel and aluminum, textiles
Brazil’s Lula urges Trump to treat all countries equally
NEW DELHI: Brazil’s President Luiz Inacio Lula da Silva urged Donald Trump on Sunday to treat all countries equally after the US leader imposed a 15 percent tariff on imports following an adverse Supreme Court ruling.
“I want to tell the US President Donald Trump that we don’t want a new Cold War. We don’t want interference in any other country, we want all countries to be treated equally,” Lula told reporters in New Delhi.
The conservative-majority Supreme Court ruled six to three on Friday that a 1977 law Trump has relied on to slap sudden levies on individual countries, upending global trade, “does not authorize the President to impose tariffs.”
Lula said he would not like to react to the Supreme Court decisions of another country, but hoped that Brazil’s relations with the United States “will go back to normalcy” soon.
The veteran leftist leader is expected to travel to Washington next month for a meeting with Trump.
“I am convinced that Brazil-US relation will go back to normalcy after our conversation,” Lula, 80, said, adding that Brazil only wanted to “live in peace, generate jobs, and improve the lives of our people.”
Lula and Trump, 79, stand on polar opposite sides when it comes to issues such as multilateralism, international trade and the fight against climate change.
However, ties between Brazil and the United States appear to be on the mend after months of animosity between Washington and Brasilia.
As a result, Trump’s administration has exempted key Brazilian exports from 40 percent tariffs that had been imposed on the South American country last year.
‘Affinity’
“The world doesn’t need more turbulence, it needs peace,” said Lula, who arrived in India on Wednesday for a summit on artificial intelligence and a bilateral meeting with Prime Minister Narendra Modi.
Ties between Washington and Brasilia soured in recent months, with Trump angered over the trial and conviction of his ally, the far-right former Brazil president Jair Bolsonaro.
Trump imposed sanctions against several top officials, including a Supreme Court judge, to punish Brazil for what he termed a “witch hunt” against Bolsonaro.
Bolsonaro was sentenced to 27 years in prison for his role in a botched coup bid after his 2022 election loss to Lula.
Lula said that, as the two largest democracies in the Americas, he looked forward to a positive relationship with the United States.
“We are two men of 80 years of age, so we cannot play around with democracy,” he said.
“We have to take this very seriously. We have to shake hands eye-to-eye, person-to-person, and to discuss what is best for the US and Brazil.”
Lula also praised Modi after India and Brazil agreed to boost cooperation on critical minerals and rare earths and signed a raft of other deals on Saturday.
“I have a lot of affinity with Prime Minister Modi,” he said.
Lula will travel to South Korea later on Sunday for meetings with President Lee Jae Myung and to attend a business forum.
