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“The EU will take firm and immediate action against unjustified
barriers to free and fair trade, including when tariffs are used
to challenge legitimate and non-discriminatory policies,” the
Commission said. “The EU will always protect European
businesses, workers and consumers from unjustified tariff
measures.”
The Commission, which negotiates trade relations on behalf of
the 27-nation bloc, said the EU has some of the lowest tariffs
in the world and sees no justification for increased U.S.
tariffs on its exports.
“Tariffs are taxes. By imposing tariffs, the US is taxing its
own citizens, raising costs for business, stifling growth and
fuelling inflation,” it said. “Tariffs heighten economic
uncertainty and disrupt the efficiency and integration of global
markets.”
Earlier this week, the Commission said U.S. tariffs on steel and
aluminum would not go unanswered.
It is not yet clear what countermeasures would apply. Trump
slapped similar tariffs on EU steel and aluminum during his
first term, which enraged European and other allies. The EU
imposed countermeasures in retaliation at the time, raising
tariffs on U.S.-made motorcycles, bourbon, peanut butter and
jeans, among other items.
The EU estimates that annual trade volume between both sides
stands at about $1.5 trillion, representing some 30% of global
trade. While the bloc has a substantial export surplus in goods,
it says that is partly offset by the U.S. surplus in the trade
of services.
The EU says that trade in goods reached 851 billion euros ($878
billion) in 2023, with a trade surplus of 156 billion euros
($161 billion) for the EU. Trade in services was worth 688
billion euros ($710 billion) with a trade deficit of 104 billion
euros ($107 billion) for the EU.
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