**Brussels**: The European Union is contemplating a delay in its counter-measures against US tariffs, potentially postponing the implementation of tariffs on $4.9 billion of US products. Discussions involve aligning timelines for negotiations, reflecting ongoing trade tensions and concerns among EU leaders.
The European Union is considering a potential delay in the implementation of its counter-measures against the United States in response to President Donald Trump’s steel and aluminum tariffs. European Trade Commissioner Maros Sefcovic announced on Thursday that the EU might postpone its initial set of tariffs until mid-April. Originally, the European Commission proposed to re-impose tariffs on $4.9 billion worth of U.S. products starting on April 1, 2023, with an additional set targeting $19.3 billion of U.S. goods scheduled for April 13, 2023.
During a hearing at the European Parliament, Sefcovic stated, “We are now considering to align the timing of the two sets of EU counter-measures so we can consult with member states on both lists simultaneously, and this would also give us extra time for negotiations with our American partners.” This suggestion indicates a desire for further discussions before both sets of tariffs are enacted, potentially altering the impact of the proposed measures.
The proposed EU measures include a significant 50% tariff on U.S. bourbon, while Trump has countered with threats of imposing a 200% tariff on all wines and other alcoholic products imported from the EU.
In the wake of these developments, French Prime Minister Francois Bayrou expressed scepticism regarding the EU’s strategy of targeting American whiskey, indicating that choosing this specific sector might be misguided. Italian Prime Minister Giorgia Meloni also weighed in, advising caution among EU partners about intensifying the trade conflict with the United States. Meloni, who is aligned with Trump, remarked, “I am not certain that responding to tariffs with more tariffs is necessarily a good deal.”
The unfolding situation reflects the ongoing tensions between the EU and the United States concerning trade policies and tariffs, with both sides engaging in discussions as they prepare for further actions scheduled for early April. The discussions surrounding the EU’s potential tariff adjustments highlight the complexities of international trade relationships and the careful considerations involved in managing economic disputes.
Source: Noah Wire Services
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