- The European Commission (coordinates trade policy for 28 EU members) recently announced that it will impose 25% duties (taxes) on $3.5 billion worth of US goods if it’s not exempt from Trump’s tariffs (aluminum, steel).
- Since the tariffs aren’t motivated by national security, the Commission feels that “rebalancing measures” are appropriate.
- Potential goods include US orange juice, make-up, boats, and sinks.
- The Commission will notify the World Trade Organization (WTO) of countermeasures by May 23rd or with 60 days of US tariffs coming into force.
