Publisher: Maaal International Media Company
License: 465734
The European Union is seeking to respond unified in the coming days to the tariffs imposed by US President Donald Trump. Member states are likely to agree on a first set of countermeasures targeting US imports worth up to $28 billion.
This move joins China and Canada in imposing countermeasures on the United States, a rapid escalation that many fear could lead to a global trade war, potentially making goods more expensive for billions of consumers and tipping global economies into recession.
The 27-member European Union faces 25% tariffs on steel, aluminum, and car imports, along with 20% “countermeasures” effective Wednesday on most other goods. The new US tariffs cover about 70% of EU exports to the United States, which totaled €532 billion ($585 billion) last year, with the possibility of expanding the tariffs to include copper, pharmaceuticals, semiconductors, and timber.