We 'must act': Europe retaliates against Trump's 25% tariffs on steel and aluminum imports
Source: CNBC
Published Wed, Mar 12 2025 3:38 AM EDT Updated 4 Min Ago
The European Union has reacted swiftly to U.S. President Donald Trump’s 25% tariffs on steel and aluminum imports that came into effect Wednesday, retaliating with their own punitive counter-measures that it said were needed to protect consumers and businesses.
The White House confirmed the duties — which will affect Canada, Australia, the EU and others — late Tuesday, but said that Trump no longer planned to raise tariffs on the metals from Canada to 50%.
The EU responded swiftly, saying it would impose counter-tariffs on 26 billion euros ($28.33 billion) worth of U.S. goods starting in April. European Commission President Ursula von der Leyen on Wednesday told reporters that the EU “must act to protect businesses and consumers.”
“We deeply regret this measure [by the U.S.]. Tariffs are taxes, they are bad for business and worse for consumers, they are disrupting supply chains, they bring uncertainty for the economy, jobs are at stake, prices are up and nobody needs that, neither side needs that,” she said during a press conference.
Read more: https://www.cnbc.com/2025/03/12/we-must-act-europe-says-retaliating-against-trumps-tariffs.html