EU postpones tariffs on US goods to mid‑April amidst trade tensions
The European Union will delay implementing the first set of tariffs on US goods until mid-April, a spokesperson for the European Commission told CNBC.
On 12th March, the US President imposed increased tariffs amounting to 25% on foreign steel and aluminium. In response, the European Commission announced retaliatory tariffs by the EU on American goods worth approximately €26 (£22) billion.
Initially, the European Commission will reinstate tariffs from the first Trump presidency era, targeting American alcohol, Harley-Davidson motorcycles, and jeans primarily produced in Republican-led or key electoral states. It will then impose new tariffs on products such as 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, a spokesperson for the European Commission told CNBC.
The spokesperson 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 (£22) billion, the spokesperson assured.
