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Global trade war: EU postpones retaliation against US tariffs

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The European Union (EU) has postponed the retaliatory measures planned against the steel and aluminum tariffs imposed by the US in order to allow time for negotiations until mid-April. EU Commissioner for Trade, Maros Sefcovic, addressed the International Trade Committee of the European Parliament (EP) on the trade issues between the EU and the US. Sefcovic stated that they would align the timing of the two sets of measures prepared by the EU in response to the US steel and aluminum tariffs. He mentioned that they would consult with member states during this process and gain time for negotiations with the US side. Sefcovic explained that if an agreement cannot be reached between the parties, the EU would readjust its response taking into account the new reciprocal tariffs the US administration would implement on April 2, ensuring a strong, proportionate, robust, and well-calibrated response. The US tariffs of 25% on steel and aluminum imports went into effect on March 12. On the same day, the EU announced that retaliatory measures amounting to 26 billion euros would be imposed on the US. The EU planned for its customs duties to be implemented in two stages on April 1 and 13. The EU also published a list of US products subject to retaliatory customs duties. The list of 99 pages includes various products such as meat, poultry, turkey, milk and cream, nuts, coffee, fruits and vegetables, alcoholic beverages, gum, e-cigarettes, whiskey synonymous with the American lifestyle, clothing, hand tools, machinery, and motorcycles. US President Donald Trump had announced that if the 50% customs duty imposed on American-produced whiskey is not lifted shortly, a 200% customs duty would be applied to all alcoholic products imported from the EU.

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