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Transatlantic Trade Tensions Escalate Amid Tariff Dispute
The European Union (EU) has swiftly responded to former U.S. President Donald Trump's decision to impose a 25% tariff on steel and aluminum imports. In a move aimed at countering the economic impact, the EU announced retaliatory tariffs on $28 billion worth of U.S. goods. These measures target a range of products, including agricultural goods, textiles, and iconic American items like bourbon and motorcycles.
European Commission President Ursula von der Leyen expressed regret over the U.S. tariffs, emphasizing their negative impact on businesses and consumers on both sides of the Atlantic. She described the EU's countermeasures as "proportionate" and reiterated the bloc's openness to negotiation.
This latest development marks a significant strain in transatlantic relations, with both sides facing economic uncertainty and potential disruptions to supply chains. The EU's actions highlight its determination to protect its economic interests while signaling a willingness to engage in dialogue to resolve the dispute.
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