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EU Adopts Tariffs On €21 Billion Of US Goods In Metals Fight
- EU member states voted to impose tariffs on around €21 billion of US goods in retaliation for US tariffs on EU steel and aluminum exports.
- The EU tariffs will target products like soybeans, diamonds, poultry, and motorcycles, affecting politically sensitive American states.
- The European Commission stated that the countermeasures can be suspended if the US agrees to a balanced negotiated outcome.
- Most of the targeted goods will face a 25% tariff, while some categories will have 10% levies.
- The EU's trade chief discussed potential trade engagement with US counterparts, but progress has been limited.
- The EU is preparing countermeasures against the US reciprocal tariffs and aims to find a negotiated solution to the dispute.
- The EU and US have been engaged in a trade dispute since 2018, with tariffs affecting steel, aluminum, and other goods.
- The EU wants to avoid an escalation in the trade war and is ready to deploy retaliatory tariffs and target American services and technology companies.
- This move highlights the unity among EU capitals in response to the escalating trade conflict with the US.
- The EU hopes to reach a negotiated settlement, but challenges remain in engaging with the US administration on trade issues.
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