EU leaders say they will take countermeasures against US tariffs

ChainCatcher news, according to IBTimes, former U.S. President Trump signed an executive order imposing tariffs on steel and aluminum imports from several countries and regions, including the European Union, starting March 12, 2025. According to the order, aluminum products imported from Argentina, Australia, Canada, Mexico, EU countries, and the United Kingdom will be subject to additional ad valorem tariffs.

European Commission President von der Leyen stated that the EU will take "firm and proportionate countermeasures" against the "unreasonable" tariff decision by the U.S. to protect the economic interests, workers, businesses, and consumers of the EU. EU Trade Commissioner Šefčovič warned that this is a "lose-lose" situation, as the tariffs will result in U.S. citizens being taxed, increasing business costs and exacerbating inflation.