The statement by the EU says that they will be putting forward a package of new countermeasures against US exports. Adding to that, there is also the reimposition of the suspended 2018 and 2020 rebalancing tariffs. Those will be officially reinstated on 1 April and will be implemented in full this time around i.e. around €6.4 billion worth of goods.
As for the new package, it will target roughly €18 billion worth of goods. So, they will begin a two-week consultation with EU stakeholders starting today before the countermeasures might possibly go into effect on mid-April.
This article was written by Justin Low at www.forexlive.com.
