The EU announces retaliatory plan against US tariffs.

EU prepares to strike back! On the 7th, Maro efovi, the European Union Commissioner responsible for trade and economic security, said that the EU is prepared to use "all trade defense measures" to counter the impact of US tariffs, and will implement the first round of retaliatory tariffs against the US starting on April 15. Due to concerns from investors that the so-called "tit-for-tat tariffs" by the US could exacerbate the risk of a global economic recession, global stock markets experienced a "Black Monday" on the 7th. US President Trump stated that he would not suspend the so-called "tit-for-tat tariffs" policy on that day. EU to start first round of retaliation on the 15th The EU Foreign Affairs Council held a ministerial meeting in Luxembourg on the 7th, aimed at unifying the member states' positions and developing strategies for the next stage of trade negotiations with the US. After the meeting, efovi announced that the EU will implement the first round of retaliatory tariffs against the US starting on April 15, and the second round will begin on May 15. efovi stated that the EU still hopes to encourage the US to cancel tariffs through dialogue and negotiations, but if there is no progress in discussions with the US on tariffs, the EU will use all means to retaliate against the US. He said, "We are prepared to use all the tools in our trade defense arsenal to protect the interests of the EU single market, EU producers, and consumers." According to multiple media reports, the European Commission proposed to member states on that day to impose a 25% tariff on certain US products in response to the US steel and aluminum tariffs. Among them, tariffs on soybeans and various nuts products will be implemented starting on December 1. Internal EU documents show that the range of goods subject to tariffs is wide and includes diamonds, eggs, dental floss, sausages, and poultry meat. Member states of the EU will vote on the proposal on the 9th. Peter Navarro, senior trade and manufacturing advisor to US President Trump, stated on the 7th that if the EU wants to reach an agreement with the US to reduce tariffs, it must reduce its non-tariff barriers, including those brought about by the value-added tax system. When asked by reporters, efovi...