The European Union is preparing retaliatory measures in response to the United States’ announcement of impending tariffs on EU imports. Following a declaration by President Donald Trump to impose a 30% tariff beginning August 1st, EU trade ministers have been actively discussing potential counter-tariffs targeting US goods valued at approximately €72 billion.
EU Trade Commissioner Maroš Šefčovič conveyed that the proposed US tariffs would severely impact transatlantic trade relations, which currently facilitate a daily exchange of goods and services valued at €4.4 billion. He expressed disappointment that negotiations, which he believed were nearing a resolution, have been abruptly halted by the White House’s announcement. The EU had previously hoped to reach a compromise involving a 10% tariff.
In reaction to the declaration, the EU has postponed planned counter-measures against US products valued at €21 billion, with implementation now scheduled for August 1st. The situation is being closely monitored, as both sides evaluate the implications for international trade and the potential for future negotiations.