EU Endorses Retaliatory Tariffs On More Than $3 Billion In U.S. Products
As Reuters reported, the countries of the European Union (EU) unanimously agreed last week to support a plan to place tariffs on $3.3 billion in U.S. products. The European Commission is expected to formally approve the measure this week, which means they will go into effect later this month or early next month.
The EU’s decision comes after the United States announced that it would apply its Section 232 steel and aluminum tariffs on products from EU countries. Canada and Mexico also have announced retaliatory tariffs in the wake of that decision. The European Commission also is challenging the tariffs at the World Trade Organization. Norway also announced its own WTO challenge last week.