Brussels (dpa) – The EU is planning to retaliate to the new American tariffs on steel and aluminium imports with counter-tariffs on US goods worth billions of dollars. The EU is expected this afternoon to agree on the first countermeasures to the US steel and aluminium tariffs that had already entered into force before Trump’s major raft of measures. Contrary to original plans, no additional tariffs seem likely to be imposed on American whiskey. According to EU sources, tariffs of around 25 percent on soybeans, clothing and iron, steel and aluminium goods are to be voted on. A ten percent duty is to be levied on other products.
According to Germany’s acting Finance Minister Jörg Kukies, the tariffs and counter-tariffs are spiralling more quickly than expected. “That is regrettable from our perspective,” Kukies told German broadcaster Deutschlandfunk. He said that tariffs were damaging to both sides, which is why the German government was attempting to improve the situation through negotiations.
Some tariffs are already set to come into effect next week. Most counter-tariffs will probably come into force from mid-May, while duties on almonds and soybeans will only be imposed from 1 December.
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