The European Union on Wednesday announced it will start imposing duties from July on a list of U.S. products in response to President Donald Trump's decision to slap tariffs on steel and aluminum imports from Europe.
European Commission Vice-President Maros Sefcovic said that formalities in finalizing the list should be completed this month and that the new duties start applying in July.
The EU says it will introduce “rebalancing” tariffs on about 2.8 billion euros worth of U.S. steel
, agricultural and other products, including bourbon, peanut butter, cranberries and orange juice.
The EU exported some 5.5 million tons of steel to the U.S. last year. European steel producers are concerned about a loss of market access but also that steel from elsewhere will flood in.