Foreign exchange rate, March 11, 2025
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The EU has announced it will impose trade countermeasures on US goods worth 26 billion euros or 22 billion pounds, after US tariffs on steel and aluminium imports come into force, turning it into a global trade war.
European Commission President Ursula von der Leyen called the 25% US tariffs on global metal imports trade restrictions after they came into effect at 4am on Wednesday morning.
"The European Union must act to protect consumers and businesses," Von der Leyen said.
Brussels announced that it will begin a series of countermeasures on April 1.
The commission said the changes would target industrial products, including steel and aluminum, as well as household appliances, plastics and wooden goods./CNA
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