EU postpones retaliatory tariffs against U.S. goods again
- The European Union has postponed retaliatory tariffs on U.S. goods to mid-April, shifting from an original start date of April 1.
- This decision follows concerns and advocacy from key member states such as France, Spain, and Italy regarding potential retaliatory measures from the U.S. government.
- The delay aims to provide additional time for negotiations with the U.S. and consultation among EU member states to minimize economic harm.
In response to U.S. President Donald Trump's imposition of 25% tariffs on steel and aluminum imports, the European Union (EU) announced a delay in its retaliation measures. Originally set to begin on April 1, the EU decided to postpone retaliatory tariffs on approximately $28 billion worth of U.S. goods until mid-April 2025. This shift aims to provide more time for negotiations with the U.S. administration, as well as to allow EU member states to discuss the list of targeted products. Key member states, including France, Spain, and Italy, advocated for this delay amidst concerns over Trump's threat of a 200% tariff on European alcohol products, particularly bourbon and wines. The EU's decision reflects its desire to maintain constructive dialogue with the U.S. to avoid unnecessary harm to their respective economies while still addressing the trade imbalance created by U.S. tariffs. As discussions continue, the ultimate composition of the EU's retaliatory tariffs remains uncertain, including whether bourbon will be excluded from the list altogether.