EU mobilises in 1st counterstrike against Trump tariffs

European Union countries are set to approve a first wave of retaliatory tariffs on up to $28 billion worth of US goods, from meat and wine to dental floss and toilet paper, in response to sweeping import duties imposed by US President Donald Trump.

The EU move would align the 27-nation bloc with China and Canada in opposing Trump’s tariffs on steel, aluminium, cars, and most other goods, which cover 70 per cent of EU exports to the US – worth €532 billion ($585 billion) in 2024.

While seeking to maintain unity and pressure Washington into negotiations, EU members remain divided on the response. France has called for a broader strategy, including investment suspensions, while Ireland and Italy urge caution.

The European Commission is expected to propose the countermeasures Monday night, ahead of a Wednesday vote. If approved, the tariffs will take effect in two stages – from April 15 and mid-May.

EU Commission President Ursula von der Leyen will also meet with top industry leaders this week to gauge the economic fallout and chart the next steps.

Attribution: Reuters
Subediting: M. S. Salama