The European Union is reacting to the recent implementation of U.S. tariffs on steel and aluminum by introducing its own tariffs on various U.S. goods. These U.S. tariffs, which stand at 25%, could affect around 26 billion euros of EU exports. Previously, the EU had imposed tariffs in response to U.S. measures, but these were suspended under the current U.S. administration. As a reaction, the EU plans to finalize a list of products impacted by the new tariffs in two weeks, signaling an escalation in trade tensions.
On Wednesday, as American steel and aluminum tariffs of 25 percent took effect, European officials began to respond.
The tariffs will also affect products that contain steel and aluminum, such as cookware and window frames, potentially hitting 26 billion euros in EU exports.
The European Union had increased tariffs on a range of goods in retaliation to U.S. measures during President Trump's first term, but they were suspended under the Biden administration.
Representatives from countries across Europe will consult for two weeks before officials finalize the list of products that would be affected.
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