Tariff war fallout: EU eyes $28 billion in retaliatory strike as Donald Trump targets 70% of exports

In a sharp rebuke to President Donald Trump’s sweeping new tariffs, European Union countries are preparing to strike back. Within days, the bloc is expected to greenlight countermeasures on up to $28 billion worth of US imports — a retaliatory step that pulls the EU firmly into a widening trade conflict already involving China and Canada. The fight, triggered by Trump’s aggressive trade policy, threatens to drag global economies toward recession and saddle consumers with higher prices.

President Trump announced a wave of “reciprocal tariffs” targeting more than 180 countries and territories. These include a 20% tariff on imports from the EU and a 10% levy on goods from the UK.

European Commission President Ursula von der Leyen said the EU is preparing additional countermeasures if negotiations fail. “We are ready,” she signaled, underscoring the bloc’s readiness to escalate its response.

French President Emmanuel Macron urged French companies to suspend planned investments in the US, calling the tariffs “a shock for international trade.”

The US measures affect roughly 70% of the EU’s exports to the United States — trade worth €532 billion ($585 billion) last year. Sectors likely to be impacted next include copper, pharmaceuticals, semiconductors, and timber.

On April 6, the European Commission will propose to EU members a list of U.S. products to face retaliatory duties, focusing specifically on items linked to Trump’s steel and aluminium tariffs, rather than broader reciprocal measures.

A vote on the proposed EU counter-tariffs is set for April 8. Unless blocked by a qualified majority — an unlikely scenario — they will come into force in two phases: a smaller set on April 15, followed by the rest a month later.

Von der Leyen will also meet with top executives from the steel, automotive, and pharmaceutical sectors on April 7 to gauge the impact and shape the next steps. This comes after a string of U.S. tariff moves since Trump’s return to office, including a 25% duty on auto imports.