MNI BRIEF: EU Working On New Trade Retaliation Steps Vs US
MNI (LONDON) - The EU will reintroduce the suspended counterbalancing measures on steel and aluminum it first introduced in 2018 and 2020 in its first response to the 25% tariffs on these products launched by the US on Tuesday, Trade Commissioner Maros Sefcovic said today.
These first countermeasures targeting US exports to the EU worth EUR4.5bn would be launched as of April 1, Sefcovic said. In addition, the EU would start work on new additional countermeasures targeting EUR18bn worth of US exports to the EU which would be fully in place as of April 13.
Sefcovic said that the Commission would work with key stakeholders to shape this new package of trade measures.
Commission President Ursula von der Leyen said that the Union remained open to negotiations with the US in the meantime.