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 $3 Billion Gold Deal Just Changed the Market | G Mining Acquires G2 Goldfields

Why the Market May Be Misreading Iran | David Woo

Why US Fertilizer Supply Could Matter a Lot More Now | Pat Varas – Sage Potash

Recommended

Total Metals Secures High Grade Critical Minerals Property In Northwestern Ontario

Discovery at Luis Hill Prompts Acceleration of Phase 2 Program for Questcorp

Related News

Tariffs On Canada Paused for 30 Days

In a significant development, Canadian Prime Minister Justin Trudeau announced today that the United States...

Monday, February 3, 2025, 04:49:44 PM

Still No India-US Deal As Trump Tariffs Loom

Indian negotiators flew home Saturday after a fifth round of talks in Washington, but the...

Tuesday, July 22, 2025, 10:14:00 AM

Americans Prefer Canadian Oil Amid Trade Tensions, Survey Shows

Most Americans incorrectly believe Saudi Arabia is their top foreign oil supplier, while expressing a...

Monday, February 3, 2025, 07:32:33 AM

Trump’s Commerce Pick Accuses Canada Of Treating American Farmers “Horribly”

In a recent Senate confirmation hearing, Howard Lutnick, US President Donald Trump’s nominee for Commerce...

Sunday, February 2, 2025, 09:46:00 AM

Trump Wants To Abolish Income Tax, Shifts Federal Revenue Source From Tariffs Instead

US President Donald Trump has called on Congress to abolish federal income tax and have the country...

Tuesday, January 28, 2025, 12:10:00 PM