European Union member states agree to counter-tariffs on U.S. products

The European Union member states have agreed on import tariffs for a list of American products, the European Commission has reported. This is in response to the 25 percent import tax on steel and aluminum that the U.S. implemented last month.

The tariffs vary from 10 to 25 percent and apply to thousands of products, including motorbikes, soja beans, and beauty products. American whiskey was on the list originally, but this was then taken off the list due to fears for severe counter tariffs on European alcohol.

The first import tariffs come into effect from April 15. “These countermeasures can be suspended at any time, should the U.S. agree to a fair and balanced negotiated outcome,” a statement from the European Commission read.

If the U.S. does not respond, then most of the import tariffs will come into effect midway through May. The tariffs on all the products on the list will be implemented from December. Altogether, the tariffs are good for a fee of 21 billion euros, European Union sources have said.

The European Union has not taken any countermeasures against American import tariffs on cars or the general import tariffs of 20 percent. The European Commission is expected to present a proposition about this at the beginning of next week, which the member states will vote on.

The Commission continues to emphasize the willingness to negotiate with the U.S. and that the import tariffs are in “nobody’s best interest.”