EU countries approved tariffs worth €2.8 billion in retaliation against U.S. duties on steel and aluminium.
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While deeply disappointing that the surprise deal maintains aluminium and steel tariffs against the EU beyond a modest quota, it alleviates a major irritant in transatlantic relations and contains interesting and innovative features relating to climate policy and to dispute settlement under WTO rules
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retaliation, the EU introduced rebalancing measures in June 2018 worth €2.8 ($3.3) billion, while earlier in the same month it launched WTO legal proceedings against the US. The rebalancing measures took the form of an increase in duties ranging from 10% to 50% on affected steel and aluminium products, agricultural goods and various other products including motorcycles, bourbon whiskey etc. The detailed list of products and their respective tariffs can be found here. The remaining rebalancing measures, affecting exports valued up to €3.6 ($4.2) billion, were scheduled to enter into force on 1 June 2021 but were suspended until 1 December 2021, with the European Commission committed to remove the measures if the US were removing theirs. The total value of the EU rebalancing measures was €6.4 ($7.5) billion, an amount that reflected the damage caused by the new US restrictions.