EU approves countermeasures against US tariffs starting next week

ISTANBUL

In the latest trade war volley, EU member states voted Wednesday in favor of European Commission trade countermeasures against new US tariffs entering into force next week.

The countermeasures will go into force starting next Tuesday, the commission said in a press release.

The moves are expected to impact many imports such as motorcycles, agriculture, and clothing worth €21 billion ($23 billion).

The commission's proposal was made in response to US tariffs on imports of steel and aluminum from the EU.

The EU considers the tariffs unjustified and damaging, causing economic harm to both sides, as well as the world economy, it saidl

"The EU has stated its clear preference to find negotiated outcomes with the US, which would be balanced and mutually beneficial," the press release added.

It said the countermeasures can be suspended at any time should the US agree to a fair and balanced negotiated outcome.

ISTANBUL

In the latest trade war volley, EU member states voted Wednesday in favor of European Commission trade countermeasures against new US tariffs entering into force next week.

The countermeasures will go into force starting next Tuesday, the commission said in a press release.

The moves are expected to impact many imports such as motorcycles, agriculture, and clothing worth €21 billion ($23 billion).

The commission's proposal was made in response to US tariffs on imports of steel and aluminum from the EU.

The EU considers the tariffs unjustified and damaging, causing economic harm to both sides, as well as the world economy, it saidl

"The EU has stated its clear preference to find negotiated outcomes with the US, which would be balanced and mutually beneficial," the press release added.

It said the countermeasures can be suspended at any time should the US agree to a fair and balanced negotiated outcome.