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EU to impose counter tariffs | Trump issues warning | Tax on $28 billion in US goods | N18G

The European Union announced it will impose counter tariffs worth $28 billion on U.S. goods starting next month, in response to U.S. tariffs on steel and aluminum. European Commission chief Ursula von der Leyen emphasized that the EU’s countermeasures are strong but proportionate to the U.S. actions. The new tariffs will come into effect by April 13, 2025, following the end of the EU's suspension of tariffs on U.S. products, which includes items like boats, bourbon, and motorbikes. Meanwhile, U.S. President Donald Trump implemented a 25% tariff on steel and aluminum imports on March 12, 2025, ending previous exemptions. Trump also criticized Ireland’s tax policies, claiming they caused U.S. companies to relocate there. He argued that the U.S. should have prevented this and that reciprocal tariffs would aid American manufacturing. The move intensifies a global trade war, with both sides taking measures to protect their domestic industries.

Moneycontrol News
March 13, 2025 / 21:03 IST
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TAGS: #Global trade war #Ursula von der Leyen #video
first published: Mar 13, 2025 09:02 pm

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