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EU (REUTERS)
The European Union will impose counter tariffs on 26 billion euros ($28.33 billion) worth of US goods from next month in response to US tariffs on steel and aluminium, the European Commission said in a statement on Wednesday.
The commission said it will end the current suspension of tariffs on US products on April 1 and will also put forward a new package of countermeasures on US goods by mid-April.
"This matches the economic scope of the US tariffs. Our countermeasures will be introduced in two steps. Starting with April 1 and fully in place as of April 13," Ursula von der Leyen, president of the European Commission, said in a statement.
"We are ready to engage in meaningful dialogue. I have entrusted Trade Commissioner Maros Sefcovic to resume his talks to explore better solutions with the US," von der Leyen added.
US President Donald Trump's increased tariffs of 25% on steel and aluminium imports took effect on Wednesday as prior exemptions, duty free quotas, and product exclusions expired.
