FAMAGUSTA GAZETTE – European Union member states on Wednesday endorsed the bloc’s first package of retaliatory measures against U.S. tariffs, which the EU has deemed “unjustified and damaging” to both sides and the global economy, according to a statement from the European Commission.
The retaliatory duties, proposed earlier this week, will impose a 25% levy on a range of U.S. imports, including agricultural and industrial goods such as soybeans, poultry, tobacco, motorcycles, and dental floss.
These targeted products accounted for approximately €22 billion ($24.36 billion) in trade last year.
The tariffs will be rolled out in three phases:
- April 15: Cranberries, orange juice, and other goods.
- May 16: Steel, meat, white chocolate, and polyethylene.
- December 1: Almonds and soybeans.
Despite the measures, the European Commission emphasized its preference for negotiated solutions with the U.S. that are “balanced and mutually beneficial.” The countermeasures could be suspended if a fair agreement is reached.
