EU to respond to U.S. tariffs with countermeasures worth 26 billion euros from April 1

BRUSSELS, March 12 (Xinhua) -- The European Commission on Wednesday announced it will impose retaliatory tariffs on 26 billion euros (28 billion U.S. dollars) worth of U.S. goods from next month in response to U.S. tariffs of 25 percent on steel and aluminum imports.

First, the Commission let the suspension of existing countermeasures against the United States lapse on April 1. The move targets U.S. products that "respond to the economic harm done on 8 billion euros (8.72 billion U.S. dollars) of EU steel and aluminum exports," according to a statement released by the Commission.

Second, in response to new U.S. tariffs affecting more than 18 billion euros (19.63 billion U.S. dollars) of EU exports, the Commission "is putting forward a package of new countermeasures," with implementation expected by mid-April.

"Our countermeasures will be introduced in two steps. Starting with April 1 and fully in place as of April 13," European Commission President Ursula von der Leyen said in the statement.

The United States imposed a 25-percent tariff on all steel and aluminum imports on Wednesday.

Denouncing the U.S. move as "unjustified," Von der Leyen emphasized that the countermeasures introduced are firm yet proportionate.

"As the U.S. is applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros. This matches the economic scope of the U.S. tariffs," she said.

However, she also stressed that the EU remains open to negotiations and has tasked the European Commissioner for Trade and Economic Security Maros Sefcovic with resuming talks to seek solutions with the United States. ■