Eu slaps 25 percent retaliatory tariffs on E21billion Worth of US goods

   The European Union is set to apply retaliatory tariffs on around €21 billion worth of U.S. products, including soybeans, motorcycles, and orange juice.

EU member states on Wednesday approved 25% tariffs on a broad range of U.S. products — including almonds, orange juice, poultry, soybeans, steel, aluminium, tobacco, and yachts — in retaliation for similar 25% tariffs the United States imposed on steel and aluminium imports from the bloc.

This development follows the European Commission's announcement that all 27 EU member states assented to the measures on Wednesday, according to Politico.

"The EU considers U.S. tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy. The EU has stated its clear preference to find negotiated outcomes with the U.S., which would be balanced and mutually beneficial," the EU executive said in a statement.

According to four EU diplomats with direct knowledge of the vote, only Hungary opposed the package, while the other 26 countries voted in favour.

"Today Hungary is voting against the @EU_Commission’s proposal to impose counter-tariffs on the US,” Hungary's Foreign and Trade Minister Péter Szijjártó said in a post on X.

“Escalation is not the answer. Such measures would cause further damage to European economy and citizens by raising prices. The only way forward is negotiations, not retaliation.”

In another post, Szijjártó said, “Brussels and some European politicians are behaving irresponsibly towards the Western Balkans.

“Threats & contempt for elected leaders are very dangerous. Hungary has a responsible neighbourhood policy based on mutual respect.”

Meanwhile, Chinese authorities have announced an increase in tariffs on goods imported from the United States to 84%, according to a statement from China’s Customs Department obtained by SaharaReporters.

The statement read: "On April 8, 2025, the US government announced that it would increase the 'reciprocal tariff' on Chinese goods exported to the US from 34% to 84%.

"The US's practice of escalating tariffs on China is a mistake on top of a mistake, which seriously infringes on China's legitimate rights and interests and seriously damages the rules-based multilateral trading system.

"In accordance with the Tariff Law of the People's Republic of China, the Customs Law of the People's Republic of China, the Foreign Trade Law of the People's Republic of China, and other laws and regulations and the basic principles of international law, and with the approval of the State Council, starting at 12:01 a.m. on April 10, 2025, the tariff increase measures on imported goods originating from the United States will be adjusted."

Earlier, SaharaReporters reported that the United States had raised its tariff on Chinese goods to 104% following the expiration of a White House deadline for China to remove its retaliatory tariffs.

Amid these mounting tensions, China vowed to "fight to the end" against what it called aggressive U.S. trade practices.