EU braces for higher prices as US trade war ramps up

Quick Summary:

For consumers, higher prices loom on supermarket shelves, but for businesses and industry the risks are higher.

The EU's initial countermeasures will take effect on US products on 1 April, ranging from jeans and motorbikes to peanut butter and bourbon, just as they were with the Trump administration's first tariffs in 2018 and 2020.

In total, the EU will target €26bn (£22bn) of US exports."We're not going to go into hypotheticals other than to say we've been preparing assiduously for all these outcomes," said EU spokesman Olof Gill.

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Category: Business

Markets: United KingdomArgentinaAustriaBelgiumBrazilCanadaChinaFranceGermany

Topics: Spirits Tariffs Steel Companies Exports Consumers Products European President

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-12 @ 19:22:03 (4 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 940 words

Reading Time: 6 minutes read

Sentences: 34 lines

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Copyright Owner: © BBC Business

News ID: 27059873

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