In a recent announcement, the European Union’s executive arm revealed plans to impose €26 billion in tariffs on U.S. goods. This move comes in retaliation for the U.S. administration’s earlier decision to apply 25% tariffs on steel and aluminum imports from the EU. The EU tariffs will be implemented in two stages: The first step reinstates 2018 tariffs on April 1 for some items, like motorbikes and bourbon, which had been previously suspended. This will be followed by further levies on €18 billion worth of U.S. exports starting April 13. Mayer Brown’s Brussels office counsel, Dylan Geraets, noted the foreseeability of these actions for multinational clients.
With the new tariffs, businesses foresee potential supply chain disruptions, triggering transformations that may escalate the demand for legal counsel. Legal experts in Brussels have expressed concern regarding their clients’ anxiety and highlighted limited options for legal challenges to these tariff disputes.
For additional details on the evolving trade situation between the EU and the U.S., you can read more here.