The move comes just hours after Trump announced a 90-day pause before a 20% “reciprocal” tariff rate was set to hit nearly all EU exports. That rate will now be 10%.
European Commission President Ursula von der Leyen said she wants to give negotiations with the US a chance.
“If negotiations are not satisfactory, our countermeasures will kick in,” she wrote on X. “Preparatory work on further countermeasures continues. As I have said before, all options remain on the table.”
In addition to the 25% tariff on EU steel and aluminum exports, the US hit the bloc’s cars and some auto parts with a 25% levy. Trump has said he’ll announce additional tariffs on lumber, semiconductor chips and pharmaceutical products.
See also: Trump threatens 35% Canada tariff, floats higher blanket rates
Trump has repeatedly attacked the EU, the US’s largest trading partner, saying it was formed to “screw” the US and that the bloc’s trade-in-goods surplus is evidence of an unfair relationship. The EU’s trade weighted average tariff rate was 2.7% in 2023, according to World Trade Organization data.
“They come up with rules and regulations that are just designed for one reason: that you can’t sell your product in those countries,” Trump said earlier this week. “And we’re not going to let that happen."
