The European Union voted Wednesday to slap retaliatory tariffs on U.S. goods, escalating tensions with Washington after President Donald Trump’s 25% global steel and aluminum tax took effect last month.
Calling the U.S. tariffs “unjustified and damaging,” the European Commission confirmed it will begin taxing U.S. imports starting Tuesday, April 15, with more waves of duties scheduled for May 15 and December 1.
“These countermeasures can be suspended at any time, should the U.S. agree to a fair and balanced negotiated outcome,” the Commission said in a statement.
What’s Being Taxed?
- 🇺🇸 Roughly $23 billion in U.S. goods targeted
- 🪥 Products include diamonds, dental floss, tobacco, agricultural goods, and food
- 💵 25% tariff on most items; 10% on select others
- 🍷 Notably, a proposed 50% tariff on U.S. bourbon was dropped after Trump threatened 200% tariffs on European wine and champagne
US Markets Rattled, But Trump Stays Defiant
Trump’s sweeping tariff package last week—including 20% tariffs on EU goods—has already triggered:
- 💥 Massive stock and bond selloffs
- 📉 Over $5 trillion wiped from global equities
- 🧮 Recession warnings from Goldman Sachs, JPMorgan, and other major banks
But Trump isn’t backing down:
“BE COOL,” he posted Wednesday.
“The tariffs are bringing manufacturing back to America. This is about putting American workers first.”
What’s Next?
- 🇪🇺 EU will respond separately to the new 20% EU-specific tariffs Trump levied just yesterday
- 🇫🇷🇮🇹 EU officials still hope for a negotiated deal, and Commission President Ursula von der Leyen floated a “zero-for-zero” tariff offer—if the U.S. drops its tariffs, Europe will too
“Europe is always ready to strike a good deal,” von der Leyen said.
“But we are also ready to defend our interests.”
The EU’s response marks the latest escalation in a global trade war that’s now boiling over. The pressure is mounting—on markets, on multinationals, and on everyday consumers facing rising prices. And with Trump raising tariffs on China to 125% today, this is far from over.
Related:
Trump Raises Tariffs On China To 125% After Beijing’s 84% Move
China vows ‘fight to the end’ after Trump threatens extra 50% tariff
Musk made direct appeals to Trump to reverse sweeping new tariffs
Trump Opens Door to Tariff Talks—But No Pause, No Retreat, Just ‘Tough but Fair’ Deals
Bitcoin: Not so independent from the rest of the market?!…
Tariffs Will Stay in Place for Weeks, Commerce Secretary Howard Lutnick Says
JPMorgan now sees a US recession this year
US starts collecting Trump’s 10% tariff, smashing global trade norms
