Plastics Focused by Retaliatory EU Tariffs
Sixty US plastics resin and product exports to the EU could possibly be hit as a countermeasure to US tariffs on metal and aluminum.
Sixty plastic merchandise exported by the US could possibly be hit with retaliatory tariffs by the European Union (EU), evaluation by the Plastics Trade Affiliation (PLASTICS) reveals. The merchandise are on an inventory of products probably focused by the EU as a countermeasure to the 25% tariffs on metal and aluminum imposed by the US on March 12, 2025.
The resin and plastic merchandise are amongst 1,708 merchandise itemized by the European Fee for attainable countermeasures. On March 12, 2025, the fee launched an information-gathering discover beneath the (EU) No. 354/2014 regulation, permitting stakeholders to enter their suggestions till March 26.
Tariffs would affect $5.9 billion in US plastics exports
When the eight-digit, EU Harmonized Tariff Schedule (HTS) stage is matched to the corresponding six-digit US HTS codes, the proposed EU tariffs are estimated to affect $5.9 billion in US plastics resin and product exports to the EU, primarily based on 2024 export values, as proven within the desk beneath, based on evaluation by PLASTICS Chief Economist Perc Pineda.
“Based on the $4.3 billion in US imports of the above resin and plastic products from the EU in 2024, the European Commission’s proposed countermeasures put a potential $1.6 billion US trade surplus from 2024 at risk in 2025,” stated Pineda. “While the European Commission has not included plastic equipment and molds in its proposed countermeasures, US plastics equipment and mold makers that use steel and aluminum imported from the EU are already affected by the US tariffs,” he added.
Plastics Europe cautions in opposition to tariffs
Earlier this month, the European affiliation representing the plastics trade issued a cautionary assertion on the potential detrimental affect of tariffs on provide chains, enterprise bills, and prices to customers on each side of the Atlantic. “As a key stakeholder in the European plastics industry, we urge both the EU and US to prioritize diplomatic solutions to avoid escalating trade tensions further,” stated Plastics Europe.
Nobert Sparrow
