The European Union is set to retaliate against the United States' tariffs on steel and aluminum, with a planned vote on April 9th. The EU aims to present a united front, prioritizing consensus among member states over the speed of its response.
The EU's response will involve imposing tariffs on various US products, initially totaling around €26 billion, though this figure is expected to decrease. Targeted goods include corn, soybeans, copper, and even jeans, chosen for their ease of substitution with imports from other countries. Notably, bourbon whiskey was excluded due to threats from the US.
The EU Commission plans to continue its countermeasures if negotiations fail. They will present a plan for further retaliatory steps, and this process will involve consultations with member states and industries. The possibility of using an anti-coercion instrument to target US service trade remains uncertain, due to resistance from some member states.
Italy, under Prime Minister Giorgia Meloni, has expressed a softer stance towards the US. Meloni plans to visit Washington on April 17th to meet with President Trump, aiming to advocate for a negotiated solution and downplaying the potential impact of the tariffs.
Italy has pledged €14 billion from pandemic recovery funds and €11 billion from cohesion funds to support Italian businesses affected by the trade war.