EU threatens retaliation against U.S. tariffs with new import duties

The EU says it will respond to U.S. tariffs on steel and aluminium imports by reintroducing tariffs on U.S. products including whiskey, motorcycles, peanut butter, and boats in April.

The European Commission said in a memo that the countermeasures would aim to “protect European businesses, workers, and consumers” from the impact of U.S. tariffs.

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U.S. imposed tariffs of up to 25 per cent on imports of steel, aluminium, and some products containing the metals.

According to the commission, the new U.S. tariffs would affect EU exports worth 26 billion euros (28.3 billion U.S.
dollars).

This is roughly five per cent of the EU’s total exports to the U.S., resulting “in U.S. importers having to pay up to six billion euros in additional import tariffs.”