Brussels Announces Retaliatory Measures To US Tariffs Affecting Goods Worth Some US$20 Bln

MOSCOW, March 12 (Bernama-Sputnik/RIA Novosti) -- The European Commission announced on Wednesday retaliatory measures to new US tariffs that will affect goods worth about 18 billion euros (US$19.6 billion) and will go into effect in mid-April.

"On 12 March, the United States imposed tariffs of up to 25 per cent on imports of steel, aluminium, and certain products containing steel and aluminium from the European Union and other trading partners. In response, the Commission is launching a series of counter measures to protect European businesses, workers and consumers from the impact of these unjustified trade restrictions," the EU body said in a statement.

On April 1, the EU will reinstate the 2018 and 2020 rebalancing measures and impose a new package of additional measures that will go into effect in mid-April, the statement read.

"Since the new US tariffs are significantly broader in scope and affect a significantly higher value of European trade, the Commission launched on 12 March the process to impose additional countermeasures on the US. These will target approximately €18 billion worth of goods, which will then apply together with the reimposed measures from 2018," the commission said.

At the same time, the bloc remains ready to work with Washington to find a negotiated solution despite the US tariffs, the statement read, adding that the countermeasures could be lifted at any time if the problem is resolved.

--BERNAMA-SPUTNIK/RIA NOVOSTI