EU retaliates as Trump steel, aluminum tariffs take effect

The European Union (EU) retaliated swiftly with a two-step approach in response to President Trump’s fresh 25 percent tariffs on steel and aluminum that took effect Wednesday.

First, the European trading bloc — made up of 27 nations — will allow the suspension of the existing 2018 and 2020 countermeasures against the U.S. to expire on April 1. Second, the commission is proposing a new package of countermeasures on goods coming from the U.S. that will go into effect in mid-April, covering some $28 billion in imports in total.

President of the European Commission Ursula von der Leyen said Europe “deeply” regrets Trump’s additional tariffs on steel and aluminum.

“Tariffs are taxes. They are bad for business, and even worse for consumers," von der Leyen said Wednesday in a statement. "These tariffs are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake. Prices will go up. In Europe and in the United States."

“The European Union must act to protect consumers and business," she continued. "The countermeasures we take today are strong but proportionate."

After announcing the response, the EU released a 99-page list of possible items that could be subject to tariffs, including fruit and vegetables, meat, alcoholic beverages, nicotine vapes and chewing gum.

The sale of motorcycles, outerwear, household appliances, workshop tools and snowplows could also be affected.

“We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs. We are ready to engage in meaningful dialogue,” von der Leyen said, adding that she tapped Trade Commissioner Maroš Šefčovič to continue dialogue to “explore better solutions with the U.S.”

Trump has argued that additional tariffs on imports would help bring back manufacturing jobs to the U.S. and has long contended that Washington’s trade deals with the EU have been “unfair.” The president’s 25 percent tariff on aluminum represents a 15-point increase from the previous 10 percent levied on imports of the metal.

The president has also proposed separate tariffs on its two neighbors, and largest trading partners, Canada and Mexico, along with an additional 10 percent tax on Chinese goods. Trump on Tuesday said his administration would also increase planned steel and aluminum tariffs against Canada in response to an electricity surcharge the Ontario government imposed in the latest escalation of a growing trade war.

The EU is set to brief the 27 member states on the details of its response later Wednesday.

Topics

Trump 25% tariffs on steel and aluminum take effect, EU announces retaliation

Trump's tariff policies have rattled the stock market and raised fears of an economic slowdown, increased inflation and a global trade war.
CBS News - 6h
Trump’s 25% tariffs on steel and aluminum imports take effect, Europe retaliates

The European Union announced countermeasures targeting the U.S. after President Donald Trump's 25% tariffs on steel and aluminum imports came into effect.
CNBC - 10h
EU retaliates after Trump’s steel and aluminium tariffs take effect

Countermeasures beginning in April will target up to €26bn of US goods, Brussels says
Financial Times - 2h
25% tariffs on all steel and aluminum imports to U.S. take effect

President Trump's new 25% tariffs on all steel and aluminum imports have gone into effect after a second straight day of losses across all major U.S. stock markets. CBS News correspondent Natalie ...
CBS News - 5h
Trump’s Tariffs on Steel and Aluminum Take Effect

President Trump imposed a 25 percent tariff on metal imports. The move is expected to raise costs for U.S. manufacturers of cars, solar panels and other products, potentially slowing the economy.
The New York Times - 8h
Commerce secretary says 25% tariffs on steel and aluminum will go into effect Wednesday

During an exclusive interview with Meet the Press, Commerce Sec. Howard Lutnick explains which tariffs will take effect and which have been postponed by President Donald Trump.
NBC News - 3d
Trump tariffs of 25% on steel and aluminium come into effect globally as Europe says it will retaliate – business live

Brussels countermeasures to target €26bn of US goods from April while UK takes ‘pragmatic’ approach; US tariffs cover wide range of household goods such as tin foil. Full story: Trump tariffs on ...
The Guardian - 3h
Europe, Canada retaliate as Trump tariffs on metals take effect

Ursula von der Leyen, president of the European Commission, said in a statement that the EU "must act to protect consumers and business."
ABC News - 2h
Australia won't retaliate against 'unjustified' US tariffs on steel and aluminum

Australian Prime Minister Anthony Albanese says U.S. tariffs on Australian steel and aluminum are unjustified, but his government will not retaliate with its own tariffs
ABC News - 11h
Trump tariffs on steel and aluminum come into effect amid US-Canada trade war

European Commission announces countermeasures after sweeping US levies of 25% come into force without any exemptions. Donald Trump’s tariffs on steel and aluminum imports took effect on Wednesday ...
The Guardian - 11h
Canada will level $20B in tariffs in response to Trump moves on steel, aluminum

Canada is expected to impose $20.7 billion in retaliatory tariffs after President Trump decided to enforce a 25 percent tariff on steel and aluminum, which went into effect Wednesday. ...
The Hill - 3h
President Trump defends economic policies as EU announces retaliation against U.S. tariffs

The European Union announced retaliatory measures on about $28 billion in U.S. industrial and agricultural goods in response to President Trump's 25% increase in tariffs on steel and aluminum ...
CBS News - 4h
Europe Retaliates Against Trump’s Tariffs as Trade Fight Widens

The European Union responded to American steel and aluminum tariffs with its own tariffs on boats and bourbon — and pledges of more to come.
The New York Times - 4h
Trump says he's doubling tariffs on Canadian steel and aluminum to 50%

President Trump said that he will impose even higher tariffs on Canadian steel and aluminum imports beginning on Wednesday.
CBS News - 1d
Trump doubles tariffs on Canadian steel and aluminum; floats 51st state again

Trump adds another 25% to tariff on Canadian steel and aluminum as the trade war between the countries continues to escalate.
ABC News - 23h
We 'must act': Europe retaliates against Trump's 25% tariffs on steel and aluminum imports

The European Union said it would impose counter-tariffs on 26 billion euros ($28.33 billion) worth of U.S. goods starting in April in response to the duties.
CNBC - 19m
Trump to increase steel and aluminum tariffs on Canada in response to electricity surcharge

President Trump on Tuesday said his administration will increase planned steel and aluminum tariffs against Canada in response to an electricity surcharge the Ontario government imposed in the ...
The Hill - 1d
Trump announces more tariffs on Canada's steel, aluminum as stocks continue stumbling

President Trump announced more tariffs on Canada's steel and aluminum after Ontario announced a tax on electricity for the U.S. CBS Moneywatch correspondent Kelly O'Grady reports and CBS News' Fin ...
CBS News - 1d
Department of Education slashing nearly 50% of workforce; Steel and aluminum tariffs take effect

The Department of Education says half its workers are losing their jobs in a move that Education Secretary Linda McMahon says is meant to ensure "resources are directed where they matter most." CBS ...
CBS News - 4h
Canada to impose 25% retaliatory tariffs on $21 billion worth of U.S. goods

Canada will impose 25% tariffs on more than $20 billion worth of U.S. goods in retaliation for the Trump administration's steel and aluminum duties.
CNBC - 1h
FirstFT: EU retaliates to US tariffs on steel and aluminium imports

Also in today’s newsletter, Ukraine agrees immediate 30-day ceasefire and Palantir boss becomes one of highest paid tech bosses
Financial Times - 6h
Trump backs down on 50% steel and aluminium tariffs on Canada

U-turn comes after province of Ontario removes surcharge for power exports to the US but 25% levies to still take effect
Financial Times - 20h
Trump Doubles Tariffs on Canada’s Steel and Aluminum

Small manufacturers in the U.S. will likely be hurt by resulting cost increases. The president is unmoved.
Inc. - 1d
Motorcycles, whiskey, gum: How the E.U. is targeting U.S. products with retaliatory tariffs

The European Union is planning new tariffs on a wide range of U.S. imports next month in response to President Donald Trump’s new taxes on imported aluminum and steel that went into effect Wednesday.
MarketWatch - 1h
Trump, Ontario ease tariff threats

Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Trump nixes plans for tariffs on Canadian steel President Trump scrapped plans ...
The Hill - 18h
How new tariffs could make beer more expensive

A new 25% tariff on imported aluminum and steel takes effect today, raising costs for industries that rely on metal. For craft breweries like Talea Beer Co., the price hike could mean higher costs ...
CBS News - 3h
Trump will not impose 50% Canadian steel, aluminum tariffs tomorrow, says top trade advisor

President Donald Trump also declared that if Canada does not lift other tariffs on the U.S., he will "substantially increase" auto import tariffs next month.
CNBC - 19h
Tariffs Add to Automaker Concerns About Higher Steel Costs

Even before the new levies took effect, the industry was worried about prices after President Trump opposed a major merger in the steel sector.
The New York Times - 3h
China’s Tariffs on U.S. Agricultural Products Take Effect

The action came in response to the higher levies on Chinese imports that President Trump announced last week.
The New York Times - 2d
Trump doubles down on a trade war with Canada. Here’s where the U.S. gets its steel and aluminum.

President Donald Trump escalated his trade war against Canada, imposing new duties on steel and aluminum.
MarketWatch - 1d
America's allies hit back as Trump administration imposes 25% tariffs on metals imports

The U.S. raised tariffs on steel and aluminum imports to 25% as President Trump digs in on trade policies that have rocked financial markets.
NBC News - 1d
Corporate Gloom Deepens as New Trump Tariffs Take Effect

Businesses need stability and clarity and instead they are getting calamity from Washington.
Inc. - 1h
U.S. makes concession, dropping additional 25 percent tariff on steel & aluminum: Ontario premier

Ontario Premier Doug Ford joins Meet the Press NOW to discuss his decisions to lift the 25% surcharge on electricity exports after speaking with Commerce Secretary Howard Lutnick. It comes after ...
NBC News - 21h
Live Updates: Trade Fight Widens as Europe and Canada Retaliate Against Trump Tariffs

As President Trump’s global tariffs on metals took effect, the European Union and Canada announced billions of dollars in levies on American goods. Economists worried that the trade war could over ...
The New York Times - 3h
Are there benefits to Trump's tariffs?

America's largest primary aluminum producer, Century Aluminum, applauded Trump's reinstatement of a 25% tariff on aluminum imports.
The Hill - 5h
China's retaliatory tariffs take effect as American farmers, stocks reel

China's retaliatory tariffs on U.S. agricultural goods will affect American farmers. This comes as the stock market continues to show the effects of a growing trade war. CBS News' Anna Coren reports.
CBS News - 1d
Canada cuts rates as trade war shakes consumer and business confidence

Reduction to 2.75% comes hours after US tariffs on aluminium and steel take effect
Financial Times - 1h
Republicans warn Trump not to let trade war drag as he doubles down on tariff threats

Senate Republicans are warning President Trump to not let his trade war drag on as his latest escalation sent Wall Street further into turmoil. Trump on Tuesday threatened to double tariffs on ...
The Hill - 18h
‘Economic self-harm’: Australia says it won’t impose reciprocal tariffs on U.S.

Australia said it will not impose reciprocal tariffs on the U.S. after President Trump ruled out exemptions or exceptions for all countries on steel and aluminum tariffs, saying it would only ...
NBC News - 7h