European Commission responds to “unjustified” US steel and aluminium tariffs with countermeasures

In response to the imposition of new US tariffs on EU steel and aluminium imports, the European Commission has launched countermeasures on US imports into the EU.

The European Commission, in a statement released on March 12, said it “regrets the US decision to impose such tariffs, considering them unjustified, disruptive to transatlantic trade, and harmful to businesses and consumers, often resulting in higher prices.”

The European Commission said the response is based on a two-step approach: First, the Commission will allow the suspension of existing 2018 and 2020 countermeasures against the US to lapse on 1 April. These countermeasures target a range of US products that respond to the economic harm done on €8 billion of EU steel and aluminium exports. Second, in response to new US tariffs affecting more than €18 billion of EU exports, the Commission is putting forward a package of new countermeasures on US exports. They will come into force by mid-April, following consultation of Member States and stakeholders.

“In total, the EU countermeasures could therefore apply to US goods exports worth up to €26 billion, matching the economic scope of the US tariffs. In the meantime, the EU remains ready to work with the US administration to find a negotiated solution. The abovementioned measures can be reversed at any time should such a solution be found,” the European Commission said.

“As of this morning the United States is applying a 25% tariff on imports of steel and aluminium. We deeply regret this measure. Tariffs are taxes. They are bad for business, and even worse for consumers. These tariffs are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake. Prices will go up. In Europe and in the United States. The European Union must act to protect consumers and business. The countermeasures we take today are strong but proportionate. As the US are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth €26 billion,” President of the European Commission Ursula von der Leyen said.