The countermeasures, which take effect next week, will reportedly be limited to certain products

EU member states have approved retaliatory measures to counter the tariffs imposed by US President Donald Trump on the bloc's steel and aluminum. The response does not address the 20% US tariffs on all EU exports that came into force on Wednesday.

Trump, who has repeatedly accused the EU of treating America "badly," introduced 25% duties on metals last month, saying the policy targeted nations that impose high barriers for US goods.

The European Commission did not disclose the list of targeted goods or tariff levels, but media reports citing internal documents said the measures would cover a wide range of US goods, including poultry, grains, clothing and metals. Most of the goods would reportedly face a 25% tariff, with a few categories subject to 10%. According to astatement, released by European Commission on Wednesday, the bloc's countermeasures will take effect on April 15.

EU diplomats with direct knowledge of the decision told Politico that only Hungary opposed the package, while all other 26 members backed it.

The volume of US imports affected will reportedly be slightly less than the volume EU exports hit by the US tariffs, at around €22 billion ($23.8 billion) per year. Bourbon was removed from the list due to pressure from France, Ireland and Italy after Trump warned that targeting it could trigger a 200% tariff on European alcohol, media wrote.

The Commission said that the EU considered US tariffs "unjustified and damaging," causing economic harm to both sides, as well as the global economy. The countermeasures could be suspended "at any time" if the US agrees to a "fair and balanced negotiated outcome," it added.

The current measures do not address Trump's separate move to impose 20% tariffs on all EU exports, which came into force on Wednesday as part of his so-called 'Liberation Day' tariffs, nor his latest 25% tariff on cars.

The Commission is preparing a second package of retaliatory measures to respond to those tariffs, which could be presented as early as next week, trade spokesperson Olof Gill said on Tuesday.

Trump announced sweeping global tariffs last week, arguing they were necessary to restore global trade fairness and accusing other nations of "ripping off" the US through "harmful policies."

He called the EU "very tough traders" and said American firms pay more than $200 billion a year in value-added taxes across Europe. Trump warned of further measures if the bloc retaliates.

The escalating trade tensions have rattled global markets and raised concerns of a global recession.

(RT.com)