The European Union on Wednesday announced retaliatory trade action after the Trump administration officially increased tariffs on all steel and aluminum imports to 25%, with duties on industrial and agricultural products that will go into effect April 1.
As the US are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros (USD 28 billion), European Commission President Ursula von der Leyen said in a statement.
We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs, von der Leyen said.
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