The European Union swiftly announced retaliatory tariffs on U.S. industrial and agricultural goods, worth approximately €26 billion, following the Trump administration's decision to impose 25% tariffs on steel and aluminum imports. This trade escalation highlights the tension in transatlantic relations, exacerbated by the U.S. warning Europe to manage its own security. EU officials, including President Ursula von der Leyen, expressed regret over the tariffs, emphasizing their negative impact on job markets and consumer prices on both sides of the Atlantic.
Jobs are at stake. Prices will go up. In Europe and in the United States.
As the U.S. are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros.
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.
Tariffs are taxes. They are ultimately paid by consumers and businesses.
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