EU delays retaliatory tariffs on U.S. until mid‑April
The European Union will delay the implementation of the first set of tariffs on U.S. goods until mid-April, a spokesperson for the European Commission told CNBC.
On March 12, the increased tariffs imposed by the U.S. president, amounting to 25%, on foreign steel and aluminum came into effect. In response to these tariffs, the European Commission announced the imposition of retaliatory tariffs by the EU on goods from the U.S. worth approximately €26 billion (CAD 40 billion).
Initially, the European Commission will reinstate tariffs from the first Trump presidency era—covering American alcohol, Harley-Davidson motorcycles, and jeans primarily produced in Republican-led or key electoral states—and then impose new ones, such as on beef and sugar.
The EU must "act to protect businesses and consumers," said the President of the European Commission, Ursula von der Leyen.
The Commission has decided to align the timing of the two sets of EU countermeasures against U.S. 232 tariffs on EU steel and aluminum, said a spokesperson for the European Commission to CNBC.
He added that the retaliatory tariffs will be implemented in mid-April. This change constitutes a slight adjustment to the schedule and does not diminish the impact of our response, especially as the EU continues to prepare for retaliatory actions amounting to up to €26 billion (CAD 40 billion), he assured.
