Bernd Lange, chair of the EU Parliament's Trade Committee, indicated that if no agreement is reached by the upcoming deadline, retaliatory tariffs on U.S. goods, including jeans and bourbon, will be implemented.

Monika Schnitzler, the head of the German Council of Economic Experts, has called for the EU to retaliate against Donald Trump's proposed tariffs on steel and aluminum products, which are set to take effect soon.

The EU is considering counter-tariffs targeting products from influential Republican senators, similar to past tariffs on Harley-Davidson motorcycles and bourbon, which had substantial economic repercussions.

In 2018, the EU implemented tariffs on U.S. goods as retaliation against Trump's steel and aluminum tariffs, resulting in a decline in sales for companies like Harley-Davidson and bourbon brands.

She expressed concerns that Trump's potential 25% tariffs on EU imports could lead to significant trade conflicts, particularly impacting key European industries such as automotive, machinery, and chemicals.

Schnitzler advocates for retaliatory tariffs against the U.S. in response to the new import duties imposed by the American government.

Schnitzler hopes that new countermeasures will pressure Trump by targeting products from Republican strongholds, recalling the impact on U.S. farmers due to lost Chinese markets for soybeans.

Currently, the EU Commission, led by President Ursula von der Leyen, is negotiating with U.S. officials to resolve the tariff issue, recalling previous unsuccessful negotiations.

Schnitzler highlighted that the tariffs would not only increase export costs but also raise prices for imported raw materials, jeopardizing the stability of the automotive sector and negatively affecting the German automobile industry.

Despite the confrontational U.S. economic policies, Schnitzler advises against withdrawing EU antitrust actions against American Big Tech companies, emphasizing that these investigations should remain separate from trade negotiations.

She criticized major U.S. tech companies for their alignment with Trump and urged the EU to persist in its investigations into these firms for competitive and regulatory violations.

The U.S. government has recently instituted new tariffs, including a 25% levy on exports from Canada and Mexico, and a 20% tariff on Chinese goods, effective March 5, 2025.