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Global Trade War: EU Postpones Retaliation to US Tariffs

The European Union (EU) has postponed the measures planned in response to the steel and aluminum tariffs imposed by the US to allow time for negotiations until mid-April. Maros Sefcovic, the EU Commissioner for Trade, addressed trade issues between the EU and the US in the International Trade Committee of the European Parliament (EP). Sefcovic stated that they would align the timing of two sets of measures prepared by the EU against the US steel and aluminum tariffs, engage in discussions with member states during this process, and gain time for negotiations with the US side. Sefcovic explained that if an agreement cannot be reached between the parties, the EU will readjust its response in consideration of the new retaliatory tariffs the US administration will implement on April 2, highlighting that this approach would lead to a firm, proportionate, robust, and well-calibrated response. The US imposed 25% tariffs on steel and aluminum imports on March 12. On the same day, the EU announced that retaliatory measures amounting to 26 billion euros would be applied to the US. The EU customs duties were planned to be implemented in two stages, on April 1 and 13. The EU also published a list of US products that could be subject to retaliatory customs duties. The total 99-page product list includes various items such as meat, chicken, turkey, milk and cream, nuts, coffee, fruits and vegetables, alcoholic beverages, chewing gum, e-cigarettes, whiskey synonymous with the American lifestyle, clothing, hand tools, machinery, and motorcycles. US President Donald Trump had previously stated that if the 50% tariff imposed on domestically produced whiskey is not lifted soon, a 200% tariff will be applied to all alcoholic products imported from the EU.

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