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EU Delays Retaliatory Tariffs on U.S. Goods

Yuki by Yuki
21/03/2025
in Futures News
EU Delays Retaliatory Tariffs on U.S. Goods
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The European Union has postponed its retaliatory trade action against the United States until mid-April, following the Trump administration’s decision to raise tariffs on steel and aluminum imports to 25%, senior officials confirmed Thursday.

Initially, the EU planned to impose tariffs on American goods worth approximately 26 billion euros ($28 billion) in two stages, set for April 1 and April 13. The measures would target a variety of U.S. exports, including steel and aluminum products, as well as beef, poultry, bourbon, motorcycles, peanut butter, and jeans.

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However, U.S. President Donald Trump is also preparing to introduce “reciprocal” tariffs, matching the duties that other nations impose on American imports “for purposes of fairness.” These tariffs are expected to be unveiled on April 2.

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European Commission President Ursula von der Leyen confirmed the delay, stating, “We decided to adjust the timing of the entry into force of tariffs.” The Commission, which represents the EU’s 27-member bloc in trade negotiations, aims to balance the impact on producers, exporters, and consumers while mitigating any potential economic fallout.

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EU Trade Commissioner Maroš Šefčovič, who has been engaged in discussions with U.S. officials to avert a full-scale tariff war, cautioned lawmakers earlier on Thursday that “the situation is quite fluid, quite volatile.” Šefčovič explained that the delay would provide the EU with more time to assess the likely effects of Trump’s reciprocal tariffs and determine the most appropriate response.

“This will also give us additional time for negotiations with our American counterparts to seek a mutually agreeable solution, which would be our preferred outcome,” he added.

Von der Leyen reiterated the EU’s strong opposition to tariffs, describing them as “bad for consumers” and “bad for business on both sides of the Atlantic.” She emphasized that tariffs are detrimental to both economies and underscored the EU’s commitment to pursuing trade solutions that avoid further escalation.

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