A majority of the EU’s 27 member states have voted in favor of imposing retaliatory tariffs against the United States. These tariffs are set to take effect in stages, with some starting in mid-April and others in mid-May. The third round is scheduled for December 1st and will target around 1,600 goods with tariffs reaching up to 25 percent.
The EU has deemed the US tariffs as unjustified and harmful, causing economic damage to both sides and the global economy. The EU Commission has expressed a clear preference for seeking balanced and mutually beneficial negotiation outcomes with the US following the vote.
These tariffs are strategically aimed at politically sensitive states in the US and cover a range of products such as soybeans from Louisiana, where House Speaker Mike Johnson resides, as well as diamonds, agricultural products, poultry, and motorcycles, as reported by Bloomberg News.
Among the countries that voted in favor of implementing these counter-tariffs is Sweden, according to Minister for International Trade and Nordic Cooperation Benjamin Dousa. He believes that this well-crafted list will exert pressure on the US to come to the negotiating table with the EU.
In addition to these retaliatory measures, the US has imposed a general tariff of 20 percent on nearly all European exports, along with a separate 25 percent tariff on cars and certain auto parts. Collectively, President Trump’s tariffs target EU goods worth approximately 380 billion euros. The response from the EU to these tariffs remains to be seen.
The EU Commission has stated that the countermeasures approved can be revoked at any time if the US agrees to a fair and balanced negotiation outcome. This leaves room for potential resolution and de-escalation in the ongoing trade tensions between the two economic powerhouses.