EU to Implement Counter Tariffs on $28B+ in US Imports :

The European Commission stated on March 12 that, starting next month, the European Union will impose counter tariffs on American goods worth 26 billion euros ($28.33 billion) as a response to the American steel and aluminum tariffs.

In the statement, the EU mentioned they are still willing to cooperate with the US administration in finding a negotiated solution.

The commission indicated it will lift the remaining suspension of tariffs on American services and products on April 1, make new retaliatory provisions for the American tariffs by mid April, and February’s trade agreement will come into force on the 13.

“In terms of economy, it corresponds to scope of the American tariffs. Our counter measures will be implemented in two phases. From 1 April we will start and from 13 April we will fully implement,” stated Ursula von der Leyen, President of the European Commission.

"We are willing to have a sensible conversation. I have asked Trade Commissioner Maros Sefcovic to go forward and restart his discussions to look for more favorable options with the US," added von Der Leyen.

The US Trump administration’s tariffs for steel and aluminum imports went into effect March 12. Previous dormant trade agreements were now expired requiring this new change. This action is part of a broader campaign to restructure international trade policies so that they work for the United States.”