The media estimated possible EU losses due to US duties on steel and aluminum at €28 billion

U.S. President Donald Trump 's duties on steel and aluminum will affect up to €28 billion of European Union (EU) exports, Bloomberg reported Feb. 22.

According to people familiar with the views of EU officials, the volume of goods that will be targeted by the duties is about four times larger than the last time Trump targeted the bloc's steel sector.

On Friday, Feb. 21, EU trade chief Maroš Šefčovič informed EU ambassadors after his visit to Washington that the situation was "in a state of uncertainty" and the details and scope of any duties "could still change," sources told Bloomberg.

For the EU, the fight against U.S. duties on metals began in 2018 during Trump's first term, when the U.S. imposed duties on about $7 billion worth of European steel and aluminum exports, citing national security concerns.

Sources said Shefcovic said after meeting with the U.S. Commerce Secretary and other officials that the atmosphere was "positive, but no talks have been held yet."

To avoid a trade conflict, Šefčovič offered his US counterparts a deal to cut duties on industrial goods, including cars, the agency wrote.

Yes States: Trump's policies are exacerbating divisions in the West

Facing the threat of 25% duties on steel and aluminum imports, allies are already preparing retaliatory measures

On February 10, US President Donald Trump raised duties on steel and aluminum imports from 10% to 25%, and eliminated various exemptions and duty waivers for the largest suppliers. Before that, Trump specified that these duties will be imposed on the products of those countries that had previously imposed retaliatory restrictions on American products.

On February 1, Trump signed an executive order to impose trade tariffs of 25% on goods from Canada, China and Mexico. At the same time, he promised to impose duties on goods from the EU.