The European Union announced on Monday that it will begin collecting retaliatory duties on selected U.S. goods starting next week, in response to tariffs imposed by U.S. President Donald Trump.
The decision follows a meeting of EU trade ministers, who reaffirmed their preference for diplomatic negotiations to eliminate the trade barriers.
Under Trump’s new trade policy, the 27-member bloc is facing 25% import tariffs on steel, aluminum, and cars, along with reciprocal tariffs of 20% on nearly all other goods beginning Wednesday.
The U.S. administration argues that these measures are necessary to counter what it perceives as high trade barriers imposed by other nations on American exports.
“We need to remain calm and respond in a way that de-escalates. The stock markets right now show what will happen if we escalate straight away.
But we will be prepared to take countermeasures if needed to get the Americans at the table,” said Dutch Trade Minister Reinette Klever.
European Commission President Ursula von der Leyen, speaking at a press conference in Brussels, stated that the EU is open to negotiating a “zero-for-zero” tariff agreement on industrial goods.
“Sooner or later, we will sit at the negotiation table with the U.S. and find a mutually acceptable compromise,” added EU Trade Commissioner Maros Sefcovic.
Sefcovic also confirmed that the EU will begin collecting an initial round of retaliatory tariffs on U.S. imports from April 15, with a second phase to follow on May 15.
These measures are aimed at countering U.S. duties on European steel and aluminum products.