00:00The EU is hitting back at U.S. steel and aluminum tariffs with a set of countermeasures targeting
00:07a variety of American products.
00:11In her announcement of the package, European Commission President Ursula von der Leyen
00:15criticized the Trump administration's decision to raise tariffs to 25 percent, which took
00:20effect on Wednesday.
00:22Tariffs are taxes.
00:24They are bad for business and worse for consumers.
00:28They are disrupting supply chains.
00:31They bring uncertainty for the economy.
00:35Jobs are at stake, prices up.
00:37Nobody needs that on both sides, neither in the European Union nor in the United States.
00:44Von der Leyen said the countermeasures on 26 billion euros of U.S. goods are a proportionate
00:50response but also emphasized openness to a negotiated solution.
00:55We firmly believe that in a world fraught with geoeconomic and political uncertainties,
01:04it is not in our common interest to burden our economies with such tariffs.
01:11We are ready to engage in a meaningful dialogue.
01:15The EU countermeasures will be implemented in two phases, starting April 1st to be fully
01:20in place by April 13th.
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