EU Imposes First Batch of Retaliatory Sanctions against US Tariffs

The European Union (EU) agreed on Wednesday on the first set of retaliatory measures to counter US tariffs on steel and aluminum, according to CNBC.

The European Commission, the bloc's executive arm, announced that the first round of tariffs on US imports will begin on April 15, with a second round of measures to follow on May 15.

According to a draft document seen by CNBC in March, the tariffs target a wide range of goods, including poultry, grains, clothing, and metals.

The EU has not released a final list of affected products and declined further comment on Wednesday.

The 27-member bloc had warned that it would take action to protect European businesses and consumers after US President Donald Trump imposed 25% tariffs on metals.

The EU considers the US tariffs unjustified and harmful, causing economic damage to both sides, as well as to the global economy. The European Union has expressed its clear preference for a balanced and mutually beneficial negotiation outcome with the United States, according to the European Commission.

These countermeasures can be suspended at any time if the United States agrees to a fair and balanced negotiation outcome, the European Commission added in a statement.

The European Union also faces 20% tariffs on virtually all US imports, as part of Trump's targeting of more than 180 countries and regions, as announced by the White House on April 2.

European Commission President Ursula von der Leyen said at the time that the EU was prepared to respond if negotiations with the US administration failed.