BRUSSELS — The European Union has signaled its intention to implement countermeasures in response to recent tariffs announced by the United States. European Commission President Ursula von der Leyen stated that the EU is in the final stages of preparing a package of retaliatory measures targeting U.S. tariffs on steel. Further countermeasures are also being prepared to protect EU interests and businesses in the event that ongoing negotiations do not yield a satisfactory resolution.
The U.S. has imposed a 10% minimum tariff on most imported goods, with a higher 20% rate for products from the European Union. This move has sparked concerns of a global trade conflict that could potentially lead to higher inflation and economic slowdowns both in the U.S. and globally.
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