Europe Fights Back With $20B Retaliatory Tariffs

The EU confirmed that it will impose retaliatory tariffs on more than $20 billion worth of American goods, in what European officials describe as a direct response to President Donald Trump’s ongoing trade war. The Commission declared that it “considers U.S. tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy,” signaling the bloc’s strong opposition to recent U.S. measures on steel, aluminum, and other products.

According to sources in Brussels, 25% tariffs will soon apply to various US exports ranging from almonds to yachts, starting with duties collected on April 15 and May 15, with a final batch scheduled for December 1. European policymakers aimed these countermeasures at goods that can be easily replaced by non-US suppliers, but some items were also chosen for their political impact on Republican-leaning states.

All EU member states, except Hungary, voted in favor of the measures. Hungarian Foreign Minister Péter Szijjártó took to social media to criticize the decision and emphasized, “Such measures would cause further damage to [the] European economy and citizens by raising prices. The only way forward is negotiations, not retaliation.”

The new tariffs follow China’s announcement of an 84% levy on all US goods, up from a previously announced 34%.

EC President Ursula von der Leyen revealed that a “zero-for-zero” trade deal has been offered to the White House, a proposal initially floated back in 2018 to remove tariffs on both sides altogether. Recent remarks by billionaire businessman and Trump adviser Elon Musk have also hinted at support for a deal that eliminates tariffs.

However, observers remain divided over whether the Trump administration is using tariffs solely as a negotiating tactic or as a longer-term strategy to reshape American industry.


Information for this story was found via The Guardian and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

SSR Mining Walks Away From a World Class Gold-Copper Project

Why More Canadians Are Starting to Think About Leaving | Jesse Day

Instead of Waiting, This Gold Developer Went Bigger | Kenneth McLeod – Sonoro Gold

Recommended

Why This Gold Company Keeps Spinning Out Assets | John-Mark Staude – Riverside Resources

Silver at $75 and Why U.S. Silver Ounces Are Getting Hard to Find | Galen McNamara – Silver47

Related News

Bank of Canada Warns Tariffs Would Slash Growth, Push Inflation Higher

Bank of Canada Governor Tiff Macklem warned on Friday that proposed US tariffs would permanently...

Tuesday, February 25, 2025, 02:51:00 PM

Tariffs Block Volkswagen’s US Expansion Despite Cash Rebound

German automaker Volkswagen (ETR: VOW3) exceeded cash flow expectations for 2025 as the company slashes...

Saturday, January 31, 2026, 11:21:00 AM

$4000 Gold, And We’re Just Getting Started! | Peter Grandich

In this interview, Peter Grandich provides an analysis of the current global economic landscape, exploring...

Tuesday, April 22, 2025, 01:38:00 PM

Trump Tariffs Hit Steel Sector Jobs on Both Sides of Border

Hundreds of steel and aluminum workers across North America have lost their jobs following recent...

Friday, March 28, 2025, 10:05:00 AM

China Retaliates: 15% Tariff On US Imports, Antitrust Probe For Google

In retaliation to President Donald Trump’s tariffs, China took swift action on Tuesday by imposing...

Wednesday, February 5, 2025, 02:57:00 PM