EU tariff countermeasures indirectly affect the refractory industry chain
Apr 08,2025
EU Tariff Counterpunch List Document Revealed, Whiskey Not Included in Fear of Trump Backlash
The European Union is proposing to impose 25% tariffs on some U.S. goods, involving dozens of products such as diamonds and motorcycles, to counter U.S. steel and aluminum tariffs. Goods such as bourbon whiskey were removed from the list in fear of Trump's threat to impose 200% tariffs on EU alcohol. EU officials said they would adjust the amount of countermeasures, which are expected to be approved this week, with some tariffs taking effect on April 15th. Both sides may end up negotiating a compromise.
Bolivian President: U.S. tariff policy may trigger global recession
Bolivian President Arce warned on April 7 that the U.S. Trump administration's policy of imposing tariffs lacks a technical basis and is a unilateral action that jeopardizes the global economic balance and could trigger a global recession. He noted that the policy violates the principle of freedom of international trade, aims to maintain U.S. dominance over emerging economies, and will have a destructive chain reaction. Bolivia rejected such measures and would promote trade diversification and deepen cooperation with the Common Market of the South (MERCOSUR) and the BRICS countries.
Mexican President: will try to promote consultations with the United States tariffs but does not rule out reciprocal retaliation
Mexican President Zinbaum said on April 7, although does not rule out the implementation of reciprocal retaliation against the United States 25% tariffs on steel and aluminum products, but will give priority to resolving disputes through diplomatic consultations. Economy Minister Ebrard will go to the United States this week to negotiate, the Mexican side seeks to avoid retaliatory tariffs to protect their industries. Data show that Mexico is the third largest source of U.S. steel imports, 2024 exports 3.2 million tons of steel to the United States. The Mexican Steel Association warned that the tariffs would threaten 75% of its steel exports (worth $2.1 billion). The U.S. has implemented the tariff policy since March 12 and has been criticized for undermining the global trade order.
EC proposes 25% tariffs on some U.S. goods, expected to take effect May 16
The European Commission on the 7th proposed 25% tariffs on some U.S. imports, which are scheduled to take effect on May 16, but excluded bourbon from the list. The EU previously announced a two-stage implementation of countermeasures, the first phase of tariffs April 15 start. Member states will vote on the proposal on the 9th, and if passed, the two-stage tariffs will be implemented on April 15 and May 15 respectively. The move is a response to U.S. steel and aluminum tariffs.
Trump talks again about his displeasure with Russia, blames Russia for continued attacks on Ukraine
U.S. President Donald Trump on April 7 once again expressed his dissatisfaction with Russia's continued attacks on Ukraine, saying the U.S. is working to bring about an end to the conflict between Russia and Ukraine. This comes after Trump threatened to impose tariffs on Russian oil because of the poor progress of the Russia-Ukraine ceasefire. Russia and the U.S. agreed to a moratorium on strikes on energy facilities after talks in Saudi Arabia in late March, but both sides have recently accused each other of violating the agreement. Russia has denied media reports that Trump is “very angry” with Putin. Negotiations are still ongoing, but the prospects for a ceasefire are unclear.
Trump renews pressure on EU to buy energy from U.S.
U.S. President Donald Trump on April 7 demanded that the European Union must buy U.S. energy in order to cut its trade deficit, threatening to “cut $350 billion in one week.” This comes after Trump signed an executive order imposing a 20% tariff on EU products. For its part, the European Commission has proposed 25% retaliatory tariffs on U.S. goods in two phases, the first of which kicks in on April 15, but excludes bourbon from the list. EU member states will vote on countermeasures on April 9, and if passed will implement tariff retaliation as planned.
Trump: the United States will engage in direct negotiations with Iran
U.S. President Donald Trump announced that he will hold direct high-level talks with Iran on April 12, but Iranian President Pezeshizian emphasized that the talks need to be conditional and will not be at any cost. Iran's foreign minister said no talks have been held yet and is willing to engage in an indirect way. Previously, Trump had sent a letter to Iran's Supreme Leader urging negotiations, Iran through Oman replied to the letter rejecting direct negotiations but open indirect channels. Trump warned that if Iran does not cooperate will face military action.