All EU member states, except Hungary, voted on Wednesday to impose tariffs on certain U.S. products starting next week. This decision was made just hours before President Trump announced on social media that he would pause tariffs on most countries for 90 days but raise tariffs on China to 125%.
The European Commission published the proposals earlier in the week. They were approved during a meeting in Brussels after the U.S. introduced 20% tariffs on nearly all European goods. This action was a direct response to the Trump administration’s earlier tariffs of 25% on European steel and aluminum. The EU has indicated that it’s still considering its response to additional U.S. tariffs of 20% on European car imports.
As for President Trump’s announcement about the 90-day tariff suspension, it’s not clear if this applies to EU countries. European Union officials have stated that their new tariffs are a response to what they call "unjustified and damaging" tariffs from the U.S. They aim to reach a fair deal and may suspend their countermeasures once an agreement is in place.
The proposed tariffs from the EU are expected to hit American motorcycles, poultry, fruit, and wood, as per a draft seen by Reuters. If no agreement is reached, these tariffs will gradually roll out, starting next Tuesday, with more rounds in May and December.
French Trade Minister Laurent Saint-Martin emphasized the need for dialogue, saying, "A tariff war is harmful for everyone." He expressed the EU’s preference to negotiate with the U.S. for a mutually beneficial trading agreement.
Recent reports indicate that European stock markets dropped significantly, with major indices in London, Frankfurt, and Paris falling about 3% on the day of the vote. This decline reflects a wider trend, with stocks down more than 10% over the week since Trump’s latest tariffs were announced.
In 2019, a similar trade dispute between the U.S. and the EU caused significant economic strains. History shows that trade wars can lead to broader economic challenges, impacting jobs and economies worldwide. Experts argue that finding a path through negotiation, rather than conflict, is essential for both parties.
With ongoing tensions, social media reactions indicate that people are closely watching these developments. Many hope for a resolution that reduces tariffs and promotes a stable trading environment.
For more details on the latest trade tensions, you can visit the European Commission’s official statement.
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