The European Union has strongly condemned U.S. President Donald Trump’s decision to impose tariffs on steel and aluminum, vowing to take immediate action against what it perceives as unjustified trade barriers. The European Commission, representing the 27-nation bloc, criticized Trump’s “reciprocal” trade policy as detrimental to free and fair trade, emphasizing its commitment to protecting European businesses, workers, and consumers from unwarranted tariff measures.
Highlighting the EU’s position as one of the world’s lowest tariff regions, the Commission argued against the need for increased U.S. tariffs on its exports, stating that tariffs ultimately harm domestic citizens by raising costs for businesses and fueling inflation. The Commission warned of the negative economic impacts of tariffs, which it views as disruptive to global market efficiency and integration.
In response to the U.S. tariffs on steel and aluminum, the EU indicated that it would implement countermeasures, although the specifics are yet to be determined. This retaliation follows previous tensions when Trump imposed similar tariffs, prompting the EU to respond by raising tariffs on various U.S. goods. The EU highlighted the significant trade relationship between the two sides, with an estimated annual trade volume of $1.5 trillion, constituting about 30% of global trade.
Despite a trade surplus in goods for the EU, the U.S. maintains a surplus in service trade, contributing to a complex trade dynamic between the two entities. In 2023, trade in goods between the EU and the U.S. reached 851 billion euros ($878 billion), with a trade surplus of 156 billion euros ($161 billion) for the EU, while trade in services amounted to 688 billion euros ($710 billion) with a trade deficit of 104 billion euros ($107 billion) for the EU.
