Overview

• EU member states are expected to vote today on imposing up to 25% tariffs on $23.9 billion worth of U.S. exports, with the first phase starting April 15.
• The tariffs will be implemented in three stages, with additional rounds scheduled for May 16 and December 1, targeting goods like orange juice, steel, and soybeans.
• The EU's strategy is designed to exert economic and political pressure by focusing on exports from states that are key to Trump's political base.
• This move follows Trump's recent expansion of tariffs on EU and global imports, including 25% duties on steel and aluminum and broader levies on other goods.
• The EU joins China and Canada in escalating global trade tensions, as the conflict risks deepening into a broader trade war.