EU postpones tariffs against the US until mid-April

(Patria) - The European Commission has decided to postpone the tariffs it announced as countermeasures to the US introduction of tariffs on steel and aluminum imports from the EU.

In mid-March, the Commission announced that on April 1st it would activate existing countermeasures against the US that were suspended in 2018 and 2020, and that in mid-April it would adopt a new package of countermeasures for US exports.

- We are now considering synchronizing these two EU countermeasure packages in terms of timing so that we can consult with the member states about them, and this would also give us additional time for negotiations with our American partners - said Trade Commissioner Maroš Šefčovič in the European Parliament.

Both countermeasure packages are expected to enter into force in mid-April.

The first set of countermeasures relates to a range of American products such as motorcycles, bourbon, and boats, and is a response to economic damage worth EUR 4.5 billion from EU steel and aluminum exports.

The second package relates to US exports worth EUR 18 billion.