U k r V i s t i

l o a d i n g

EU's Response to Trump's Tariffs Takes Shape

The European Union is preparing countermeasures against U.S. tariffs on imports.

image

In the coming days, European Union countries are expected to unite against the tariffs imposed by Donald Trump, likely approving an initial set of countermeasures aimed at American imports.

According to Reuters, the 27 EU nations are facing 25% tariffs on steel, aluminum, and automobiles, as well as "reciprocal" tariffs of 20% on nearly all other goods. Trump's tariffs affect about 70% of the EU's exports to the U.S., valued at 532 billion euros.

The European Commission, which coordinates the EU's trade policy, plans to present a list of American goods to its members late Monday evening that will be subject to additional tariffs.

These tariffs could apply to up to 28 billion dollars worth of goods. The list may include American meat, grains, wine, wood, clothing, as well as chewing gum, dental floss, vacuum cleaners, and toilet paper.

If implemented in the coming days, the EU will become the third player after China and Canada to respond to the U.S. trade escalation.

One product that has attracted more attention and caused divisions within the bloc is bourbon. The Commission set a 50% tariff, prompting Trump to threaten a 200% counter-tariff on alcoholic beverages from the EU if the bloc proceeds further.

Wine exporters from France and Italy have expressed concerns. The EU, whose economy greatly relies on free trade, aims to ensure broad support for any response to continue pressuring Trump to eventually enter negotiations.

It is important to note that on April 3 and 4, companies on the U.S. stock market lost about 6.6 trillion dollars.

President Donald Trump's decision to impose a 20% tariff on all European goods deepens the pain for the French cognac industry, which is valued at nearly 3 billion dollars.