The European Union (EU) plans to take extensive retaliatory measures in response to the United States' reciprocal tariffs.
According to Yonhap News on the 2nd (local time), Olof Zill, the EU trade spokesperson, stated at a regular briefing that there will be "two types of responses" regarding the 'retaliatory measures' scheduled to be implemented around mid-month. However, Zill did not disclose specific details, adding, "Once the (U.S. reciprocal tariffs) announcement scheduled for this evening is made, the appropriate timing for the announcement will follow."
Earlier, the EU announced that if steel negotiations with the U.S. fail, it will impose retaliatory tariffs on U.S. goods worth a total of 26 billion euros (approximately 42 trillion won) starting mid-month. With the U.S. announcing reciprocal tariffs that will take effect immediately, the EU is expecting tariff rates of 20-25% on European products.
Sophie Primas, spokesperson for the French government, also said regarding the 'second measure' hinted at by the EU, "A decision at the EU level will be unified and strong through coordination among member states and will be announced before the end of April."
Some speculate that the EU's retaliatory tariffs will target not only U.S. goods but also the services sector. Ursula von der Leyen, President of the EU Commission, emphasized in a speech to the European Parliament the day before that "Europe holds many cards in trade, from the technology sector to market size." She specifically mentioned, "We will continue to strive to balance the (trade balance) in the services sector with the U.S., just as we do with goods."
Relatedly, Giorgia Meloni, Prime Minister of Italy, told reporters at her residence on the same day, "I am convinced that all possible means must be mobilized to avoid a trade war that benefits neither the U.S. nor Europe," emphasizing, "This means we may consider appropriate responses to protect our industries if necessary."
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