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00:00As of this morning, the United States is applying a 25% tariff on imports of steel and aluminum.
00:14We deeply regret this measure.
00:17Tariffs are taxes, they are bad for business and worse for consumers.
00:23They are disrupting supply chains, they bring uncertainty for the economy, jobs are at stake, prices up.
00:32Nobody needs that on both sides, neither in the European Union nor in the United States.
00:39The European Union must act to protect consumers and business.
00:45The countermeasures we take today are strong but proportionate.
00:51As the United States are applying tariffs worth 28 billion dollars,
00:57we are responding with countermeasures worth 26 billion euros.
01:03This matches the economic scope of the tariffs of the United States.
01:08Our countermeasures will be introduced in two steps, starting with April 1st and fully in place as of April 13th.
01:19In the meantime, we will always remain open to negotiations.
01:24We firmly believe that in a world fraught with geoeconomic and political uncertainties,
01:33it is not in our common interest to burden our economies with such tariffs.