Emmanuel OchayiEuropean Union leaders have declared they will take strong countermeasures in response to new US tariffs on steel and aluminium imports. The announcement from US President Donald Trump has sparked sharp criticism from EU officials, escalating tensions between the two major economic powers.
European Commission President Ursula von der Leyen expressed deep regret over the tariffs and stressed that the EU would not allow its industries to suffer from what she called unjustified trade restrictions.
Join our WhatsApp Channel“Unjustified tariffs on the EU will not go unanswered—they will trigger firm and proportionate countermeasures. The EU will act to safeguard its economic interests. We will protect our workers, businesses, and consumers,” von der Leyen said in a statement on Tuesday.
German Chancellor Olaf Scholz echoed her stance, insisting that the EU would remain united in defending its industries.
“We will act together, ensuring that European industries and economies are not unfairly disadvantaged,” Scholz stated.
READ ALSO: Meta To Sack Employees In Africa, Europe, Asia Starting Monday
US Tariffs Recall 2018 Trade Dispute
President Trump signed executive orders on Tuesday imposing a 25% tariff on steel and aluminium imports from several countries, including the UK, Canada, Mexico, and EU nations. The tariffs also apply to imports from Brazil, Japan, and South Korea.
This move is reminiscent of Trump’s 2018 tariffs, which led to EU countermeasures on American goods such as bourbon whiskey, motorcycles, and orange juice. The new tariffs come amid growing concerns over rising trade barriers and their potential impact on global inflation.
EU trade chief Maros Sefcovic described the tariffs as a “lose-lose scenario,” arguing that they would ultimately harm US consumers and businesses.
“By imposing tariffs, the US will be taxing its own citizens, raising costs for its own businesses, and fuelling inflation,” Sefcovic said while addressing the EU parliament in Strasbourg.
Impact on Other Industries
The effects of these tariffs could extend beyond steel and aluminium. President Trump has hinted at further trade restrictions on automobiles, pharmaceuticals, and semiconductor chips. If these measures are implemented, they could disrupt global supply chains and provoke stronger EU retaliation.
The American Chamber of Commerce to the EU has also criticized Trump’s decision, warning of severe economic consequences.
“This decision will have a wide-reaching and overwhelmingly negative impact on jobs, prosperity, and security on both sides of the Atlantic,” a spokesperson for the chamber stated.
EU Prepares Countermeasures
The EU is expected to announce its countermeasures in the coming weeks. Possible responses could include higher tariffs on US exports, stricter regulations on American tech firms operating in Europe, or legal action at the World Trade Organization (WTO).
The EU’s strategy will aim to retaliate firmly while preventing a full-scale trade war. As both sides prepare for economic consequences, global markets are watching closely for further developments. The outcome of this dispute could shape transatlantic trade relations for years to come.
Key Developments:
- European Commission President Ursula von der Leyen warns of firm EU retaliation against US tariffs.
- German Chancellor Olaf Scholz calls for a united EU response.
- US President Donald Trump imposes 25% tariffs on steel and aluminium imports.
- EU trade chief Maros Sefcovic criticizes the move as harmful to US consumers.
- Potential US tariffs on cars, pharmaceuticals, and computer chips raise concerns.
The EU is now preparing its next steps in what could be a prolonged trade battle with the US.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
