EU to impose counter tariffs on over $28 billion of US goods

The commission said it will end the current suspension of tariffs on U.S. products on April 1 and will also put forward a new package of countermeasures on U.S. goods by mid-April.

"This matches the economic scope of the U.S. tariffs. Our countermeasures will be introduced in two steps. Starting with 1 April and fully in place as of 13 April," Ursula von der Leyen, president of the European Commission, said in a statement.

"We are ready to engage in meaningful dialogue. I have entrusted Trade Commissioner Maros Sefcovic to resume his talks to explore better solutions with the U.S.," von der Leyen added.

U.S. President Donald Trump's increased tariffs of 25% on steel and aluminium imports took effect on Wednesday as prior exemptions, duty free quotas and product exclusions expired.