EU approves counter measures for US tariffs, start implementing from April 15th

The European Union has adopted the first measures to counter tariffs imposed by US President Donald Trump. With the approved measures, the bloc targets American products worth 20 billion euros, including soynne, motorcycles and beauty products.

The tariffs of up to 25 per cent are retaliation for US steel and aluminum tariffs imposed last month, while Europe's measures to the last tariffs Trump declared on April 2nd have not yet been undertaken.

“These counters can be suspended at any moment if the US accepts a fair and balanced agreement”, the European Commission said in a statement issued following the adoption of measures by EU member states.

The new tariff will start implementing on 15 April, the EC said.

“The EU considers US tariffs unwarranted and damaging, causing economic damage to both sides, as well as to the global economy”, the EC added.

Brussels stressed that it wants an agreement that “would be balanced and with mutual benefits”, broadcast Periscope.

Trump has also set a 25 per cent fee for imports of vehicles from the EU, and has targeted the bloc with a reciprocal fee of 20 per cent that entered into force today.

An EU spokesman said the response to new US tariffs will be made public next week.

Adopted by 26 EU states, Hungary did not vote against the list of targeted products is mainly oriented towards states led by Trump republics.

The products involved are poultry, corn, fruits and nuts, wood, motorcycles, plastic, textiles, paintings, and electric equipment.

Bourbon, which was on an earlier list, has been removed from the EU following pressure from major wine exporters from France and Italy, who have expressed fears that Trump will make his threat to placing a 200 per cent fee on European beverages.

The measures approved by the EU on Wednesday are divided into two parts.

First, the EU will allow a series of tariffs dating back to the first mandate of the Trum but suspended to return to power and they will start implementing by Tuesday.

The second step includes the new list of products to be targeted at tariffs, most of which will take effect next month, while some will be realised in December./ REL