00:00As of this morning, the United States is applying a 25% tariff on imports of steel and aluminum.
00:10We deeply regret this measure.
00:13Tariffs are taxes. They are bad for business and worse for consumers.
00:19They are disrupting supply chains.
00:22They bring uncertainty for the economy.
00:26Jobs are at stake. Price is up. Nobody needs that.
00:30On both sides, neither in the European Union nor in the United States.
00:35The European Union must act to protect consumers and business.
00:41The countermeasures we take today are strong but proportionate.
00:47As the United States are applying tariffs worth $28 billion,
00:54we are responding with countermeasures worth 26 billion euros.
00:59This matches the economic scope of the tariffs of the United States.
01:05Our countermeasures will be introduced in two steps,
01:09starting with April 1st and fully in place as of April 13th.
01:15In the meantime, we will always remain open to negotiations.
01:20We firmly believe that in a world fraught with geoeconomic and political uncertainties,
01:29it is not in our common interest to burden our economies with such tariffs.
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