EU countries set to approve first retaliation against US tariffs

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On Wednesday, European Union countries are set to approve the bloc’s first countermeasures against U.S. President Donald Trump’s tariffs, joining China and Canada in retaliating, which could escalate into a global trade war.

This decision comes on the same day that Trump’s “reciprocal” tariffs on the EU and several other countries take effect, including hefty 104% duties on China, further intensifying his tariff campaign and contributing to a broader sell-off in financial markets.

The 27-nation EU is facing 25% import tariffs on steel, aluminum, and cars, in addition to new broader tariffs of 20% on almost all other goods under Trump’s policy targeting countries he accuses of imposing high barriers to U.S. imports.

On Monday, the European Commission, which oversees EU trade policy, proposed additional duties, mainly 25%, on a variety of U.S. imports in response to the U.S. metals tariffs.

The affected imports include items like motorcycles, poultry, fruit, wood, clothing, and dental floss, amounting to about 21 billion euros ($23 billion) last year. This retaliation will target goods worth less than the 26 billion euros of EU metals exports that are impacted by U.S. tariffs.

The measures are set to be implemented in stages—on April 15, May 16, and December 1.

A trade committee of experts from the EU’s 27 countries will vote on Wednesday afternoon on the Commission’s proposal. The proposal will only be blocked if 15 EU members, representing 65% of the EU population, vote against it.

Wine-exporting countries like France and Italy have raised concerns after Trump threatened to impose a 200% tariff on EU wine and spirits if the EU proceeds with its planned 50% duty on bourbon.

Trump has already responded to Beijing’s counter-tariffs announced last week by nearly doubling duties on Chinese imports. China has vowed to “fight to the end.”

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