EU delays imposing first round of retaliatory tariffs against US until mid-April

The European Union (EU) has delayed imposing its first retaliatory tariffs against the U.S.until mid-April, after President Donald Trump threatened a 25% tariff increase on all steel and aluminum imports earlier this month, according to Reuters.The countermeasures of around $28 billion on U.S.

goods, including a 50% tariff on American whiskey, were originally set to phase in on April 1, with a second wave to hit on April 13.However, the EU decided on Thursday to delay imposing all retaliatory tariffs until mid-April, Reuters reported.The outlet said the delay will give the EU more time to negotiate with the U.S.and review products subject to the new tax.“We are now considering to align the timing of the two sets of EU counter-measures so we can consult with member states on both lists simultaneously, and this would also give us extra time for negotiations with our American partners,” European Trade Commissioner Maros Sefcovic said in a hearing at the European Parliament on Thursday, according to Reuters.American whiskey distillers praised the decision.“This is a very positive development and gives U.S.

distillers a glimmer of hope that a devastating 50% tariff on American whiskey can be averted,” Distilled Spirits Council president and CEO Chris Swonger said in a statement.“Over the past three years that these EU tariffs have been suspended, American Whiskey exports to the EU have soared, supporting jobs at U.S.

distilleries as well as local farms.”“We urge the EU and U.S.to reach an agreement that will return and safeguard zero-for-zero tariffs for spirits trade, benefitting the spirits and hospitality sectors,” Swonger said.

“The spirits industry is a model for growth through fair and reciprocal trade at zero for zero tariffs.”After the EU first announced its countermeasures, Trump responded by threatening a 200% tariff on wine and other alcohol products from its European counterparts if the union were to proceed with its retaliatory tariff...

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Publisher: New York Post

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