The European Union has responded to President Trump's steel and aluminum tariffs with a two-stage retaliation plan. The initial response will cover about $28 billion worth of U.S. exports, reinstating tariffs on various products beginning April 1. This move comes after previous tariffs were suspended during the Biden administration. EU leaders, including European Commission President Ursula von der Leyen, expressed regret over the decision, highlighting potential job losses and increased prices, while emphasizing the importance of negotiating to avoid a trade war.
"We deeply regret this measure," European Commission President Ursula von der Leyen said in a statement Wednesday. "Jobs are at stake, prices up, nobody needs that."
The E.U. said Wednesday that its response will come in two stages. During Trump's first term, the bloc had raised tariffs on a variety of products in response to U.S. measures, which were later suspended after negotiations during the Biden administration.
European leaders have warned for months they would swiftly hit back against potential tariffs, even as they emphasized that a trade war would hurt both sides and tried to negotiate an off-ramp with the Trump administration.
The E.U. executive branch, the European Commission, said its response would cover roughly $28 billion in U.S. exports.
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