The European Commission on Monday proposed counter-tariffs of 25% on a range of American goods in response to President Donald Trump’s tariffs on steel and aluminum, according to media reports.
The tariffs on some goods will go into effect on May 16, while others will begin later this year, according to a document viewed by Reuters.
Maros Sefcovic, the European Union trade chief, said the counter-tariffs would impact less than the previously announced 26 billion euros.
Goods such as bourbon, wine and dairy have been removed from the original list the Commission was weighing in March. The Commission had earmarked a 50% tariff on bourbon, which had prompted Trump to threaten a 200% counter-tariff on EU alcoholic drinks if the bloc goes ahead.
FOX Business has reached out to the White House.
The European Union also floated a “zero-for-zero” tariff resolution with the Trump administration after 20% import levies were imposed by Washington last week, the New York Post reported.
“We have offered zero-for-zero tariffs for industrial goods as we have successfully done with many other trading partners,” European Commission President Ursula von der Leyen said Monday.
“Because Europe is always ready for a good deal. So we keep it on the table,” she said at a press conference.
Credit:foxbusinessnews