EU Approves Retaliatory Tariffs on $23 Billion of US Goods in Response to Steel and Aluminum Tariffs

European Union (EU) members have approved retaliatory tariffs on $23 billion worth of goods in response to the 25% tariffs imposed by the United States on imported steel and aluminum. The tariffs will be implemented in stages, with some taking effect on April 15, others on May 15, and some on December 1. The EU executive commission has not yet released a list of the specific goods that will be subject to these tariffs. Despite stating that the U.S. tariffs are "unjustified and detrimental, causing economic harm to both parties, as well as to the global economy," the 27-member bloc reiterated its preference for a negotiated agreement to resolve trade issues.