Europe plans to impose counter-tariffs on US products, with an initial target of $28 billion worth of goods. European Commission President Ursula von der Leyen announced decision on Wednesday stating that the new tariffs would take effect next month.

Tariffs will apply to various products, including ships, motorcycles, and potentially more American goods. A final list will be determined after two weeks of discussions.

This move follows the US administration’s decision to impose 25% tariff on imported steel and aluminum enforced from Wednesday. In response, EU aims to protect consumers and businesses while ensuring a firm yet balanced countermeasure.

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“Europe strongly believes that burdening the economy with tariffs is not in our best interest. However, our doors remain open for negotiations,” von der Leyen stated.