European Union Prepares for Tariff Retaliation Against US

The European Union is set to take measures against an equivalent amount of products in retaliation to the US customs duties. The European Union (EU) will implement measures against products imported from the US starting from April 1st in response to the steel and aluminum customs duties that came into force today. According to the statement from the European Commission, measures will be taken against US products amounting to $28 billion in response to the products affected by US customs duties. The statement also mentioned that the European Commission is open to negotiations to resolve the trade dispute. The additional 25% customs duty imposed by the US on all imported steel and aluminum came into effect today following the expiration of previous exemptions. The customs duty covers not only raw materials but also hundreds of products manufactured from steel and aluminum.