EU Member States (EU) have approved Europe -Commission’s proposal to introduce retaliatory guares against the United States

The block’s director made the proposal as a counter -measure against the US’s imposition of duty on the import of steel and aluminum from the EU.

Tasks will be collected from April 15, when the Implementing Act is published, the Commission announced on Wednesday.

“The EU considers US duties as unjustified and harmful and causes financial damage to both sides as well as the global economy,” the Commission said in the announcement.

The Commission added that its preference is to avoid imposing duty rates and that they could be suspended at any time if the United States “accepts a fair and balanced negotiated result.”

President Donald Trump’s reveal of steep import tariffs has sent both crypto markets tumbling in the past week. BTC has lost about 8%and both the S&P 500 and NASDAQ have fallen by over 10%.