Yesterday the EU issued a press release stating that the retaliation against U.S. steel and aluminum 232 tariffs will begin on Friday, June 22. This is earlier that anticipated – the target date was July 1st. The penalty tariffs will be imposed on $3.3 billion worth of U.S. exports.
The list of products, which the EU refers to as rebalancing measures includes product in chapters 07, 10, 19, 20, 22, 24, 33, 61, 62, 72, 73, 76, 87, 89 and 95. With the exception of 10% assessed on chapter 95, a 25% tariff will be imposed on all other subjected headings imported into the EU.
Vandegrift will continue to provide new and updated information as it becomes available.