The European Union is considering imposing tariffs of 25% on roughly $3.5 billion worth of U.S. exports to the 28-member bloc should President Donald Trump push forward on his proposed tariffs on steel and aluminum imports, Reuters reported March 2.
According to Reuters, the EU said it would respond "firmly" as a result of Trump's tariffs, including initiating a challenge with the World Trade Organization as well as implementing safeguard measures.
Citing sources, Reuters said the tariffs would be used to rebalance the trade relationship.
U.S. orange juice, Harley-Davidson Inc. motorcycles, dairy products and bourbon are reportedly also under target by Europe, the (London) Financial Times and German newspaper Frankfurter Allgemeine Zeitung have previously reported.
The tariffs proposed by Trump on March 1 would apply a 25% duty on global steel imports as well as a 10% duty on global aluminum imports. His announcement came after a recommendation by Commerce Secretary Wilbur Ross, who pressed to impose high duties on the products to make the U.S. industries more competitive.
