EU Postpones Retaliatory Tariffs Amid Trump Trade Tensions

The European Union has decided to postpone its retaliatory tariffs against US President Donald Trump’s steel and aluminum tariffs until mid-next month, initially scheduled for April 1st. This response includes a proposed 50% tariff on American whiskey, which prompted Trump to threaten a 200% tariff on alcohol imports. EU officials indicated that they are delaying the implementation to allow for further discussions with the US, highlighting a desire for a constructive dialog aimed at resolving trade tensions without inflicting harm on either economy. Key leaders from countries like France and Italy, concerned about the impact on local wine exporters, have urged the EU to reconsider its response to Trump’s aggressive trade policies. The EU’s spokesperson noted that the postponement, now targeting duties for April 13th, is a minor adjustment, emphasizing that discussions among EU members regarding US products are ongoing. The announcement comes as the US is also preparing to unveil a new round of tariffs, potentially including a 25% tax on European goods, as Trump seeks to address what he describes as unfavorable trade practices affecting US exports. Distilled Spirits Council’s president welcomed the delay, expressing hope for an agreement that could maintain favorable terms for US whiskey exports.