The European Commission announced that it would apply “strong but proportionate” tariffs on a range of US products from April 1 in response to the 25% steel and aluminium tax imposed by the US.

The EU “deeply regrets” the measures decided by President Donald Trump, Commission President Ursula von der Leyen said.

“Tariffs are taxes. They are bad for business and even worse for consumers. Jobs are at risk. Prices will rise. In Europe and in the United States,” she added.

The European Commission estimates that the US measures will affect goods worth 28 billion euros. dollars, or 26 billion euros. She announced that the EU's retaliatory measures would affect the same amount of American goods.

The 25 percent tariffs on steel and aluminum, which the new occupant of the White House is pushing for, came into effect at 00:01 (06:01 Bulgarian time) today, marking a new stage in the trade war between the United States and its main trading partners.

Canada, China, the European Union, Japan and Australia are affected, and Trump's stated goal is to protect the American steel industry, whose production has been declining year by year in the face of increasingly strong competition, especially from Asia.

The US president already taxed steel and aluminum imports during his first term (2017-2021), but this new tax is intended to be "without exception and without exceptions," he said when he announced it in early February. | BGNES