Perc Pineda, PhD
Chief Economist, PLASTICS
In response to the 25% tariffs on steel and aluminum imposed by the U.S. on March 12, 2025, the European Union has proposed countermeasures that include resin and plastic products. As part of this process, the European Commission has launched an information-gathering notice under Regulation (EU) No. 354/2014 regarding the new U.S. tariffs and potential EU rebalancing measures. The notice, which opened on March 12, 2025 (12:00 UTC+1, Brussels time), allows stakeholders to submit input until March 26, 2025. The Commission invites all those affected by the U.S. tariffs and the potential EU response to participate.
The European Commission has identified 1,708 products for possible countermeasures, including 60 resin and plastic products at the 8-digit EU Harmonized Tariff Schedule (HTS) level. When matched to the corresponding 6-digit U.S. HTS codes, the proposed EU tariffs are estimated to impact $5.9 billion in U.S. plastics resin and product exports to the EU, based on 2024 export values, as shown in the table below.*
Based on the $4.3 billion in U.S. 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 U.S. trade surplus from 2024 at risk in 2025. While the European Commission has not included plastic equipment and molds in its proposed countermeasures, U.S. plastics equipment and mold makers that use steel and aluminum imported from the EU are already affected by the U.S. tariffs.
The U.S. plastics industry and its business partners in the EU are encouraged to provide input on this proposal. The Plastics Industry Association (PLASTICS) continues to monitor global trade dynamics and countries’ responses to shifts in U.S. trade and tariffs, particularly as they impact the plastics industry supply chain. PLASTICS will analyze further developments and share insights with its members and the broader U.S. plastics industry as more information becomes available.
*Tayce Shamamian, PLASTICS Research Assistant, contributed to this article.
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