The European Commission today criticized US President Donald Trump's plans to impose reciprocal tariffs on goods from countries with which Washington has a high trade deficit, world agencies reported.
"The European Commission considers President Trump's proposed "reciprocal" trade policy as a step in the wrong direction," the European Commission said in a statement.
The new tariffs will not take effect immediately. Instead, the relevant authorities have 180 days to identify the countries affected and impose country-specific tariffs on that basis, according to a senior US administration official.
The EC reiterated that Brussels would be ready to impose retaliatory measures.
"The EU will react firmly and immediately against unjustified obstacles to free and fair trade, including when tariffs are used to challenge legitimate and non-discriminatory policies," the press release said.
"The EU maintains some of the lowest tariffs in the world and sees no justification for increasing US tariffs on its exports," the European Commission said.
"Tariffs are taxes. By imposing tariffs, the US is taxing its own citizens, increasing business costs, stifling growth and fuelling inflation," Brussels warned.
The EU remains ready to find mutually beneficial solutions on the issue of tariffs with the US, said EC President Ursula von der Leyen at the Munich Security Conference.
Trump previously announced special tariffs on steel and aluminum imports, DPA recalls.