Tuesday, March 3, 2026

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

A 100,000 Ounce Per Year Gold Plan in Utah | Scott Trebilcock — Revival Gold

Can Australia Rival the Athabasca for Uranium? | Marnie Finlayson – DevEx Resources

This Could Be the Next Multi-Million Ounce Gold Camp | Mike Bennett

Recommended

Silver47 Launches 7,000-Meter Hughes Drill Program In Nevada

Advanced Gold Acquires Nevada Property With Historic Production At 1,611 g/t Silver

Related News

Shipping Collapse Accelerates as Tariffs Trigger COVID-Level Disruption

The US shipping industry is experiencing a sharp and sudden contraction, with container bookings plummeting,...

Friday, April 25, 2025, 02:22:00 PM

Trump Plans To Impose 200% Tariff On Beverage Imports From France, EU

Donald Trump’s tariff gun has apparently shifted its target to Europe as the US seems...

Sunday, March 16, 2025, 01:16:00 PM

Trump’s Tariffs A Comin’: Who’s Actually Losing?

President Donald Trump’s proposed 25% levy on imports from Canada and Mexico is scheduled to...

Tuesday, March 4, 2025, 09:20:00 AM

$112 Billion in Chinese Goods Slipped Past Trump’s Tariffs Last Year

New trade figures show a record $112 billion mismatch between China’s reported exports to the...

Thursday, February 26, 2026, 11:07:00 AM

Make Copper Great Again? Trump Admin Mulls Tariffs On Copper

The Trump administration is reportedly weighing tariffs on copper imports in a bid to reinvigorate...

Wednesday, February 26, 2025, 08:03:00 AM