Saturday, July 26, 2025

European Union prepares unified retaliatory tariff list, though seeking deal with US: reports

Date:

As a potential countermeasure to the US’s tariff war, in the event of failure of talks between the US and EU, the European Union countries have considered tariffs on US goods worth €93 billion ($109 billion), the AFP reported.Although Brussels and Washington have not maintained contact, European representatives have a 30% drop that the USA claims to be in force on 7 August. The package is paid for, including children, and is defined in advance for around €21 billion (up to $25 billion).
The European Union (EU) is intensifying negotiations with the United States in pursuit of a resolution to an ongoing trade dispute, while simultaneously preparing a set of potential countermeasures in the event that talks fail, a spokesperson said on Wednesday, a Reuters report added.
“The EU’s primary focus is on achieving a negotiated outcome with the United States. Intensive technical and political-level contact is ongoing,” said Olof Gill, spokesperson for the European Commission on trade.While diplomacy remains the bloc’s priority, the EU is laying the groundwork for alternative outcomes, including the implementation of additional retaliatory measures, according to the spokesperson. As part of these preparations, the bloc plans to consolidate two existing countermeasure lists into a single, streamlined package.

“To make our countermeasures clearer, simpler, and stronger, we will merge Lists 1 and 2 into a single list and submit this to Member States for approval,” the spokesperson explained.The list covers US goods, including Boeing aircraft, automobiles, and bourbon whisky.

Germany, the bloc’s biggest economy, has said it will support the use of anti-coercion tools to counter the U.S.

US President Donald Trump announced early this month that 30% tariffs will be imposed on the EU as of Aug 1.

Read Also: Trump asks US tech firms to stop hiring Indians, setting up factories in China as ‘those days are over’

(With Inputs From AFP and Reuters)

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Gold going steady, outlook points to more upsides

Gold prices edged lower on Wednesday, July 23, as...

US Osprey aircraft makes emergency landing in Japan after technical glitch

A US Osprey military aircraft made an emergency landing...

Govt appoints Economic Affairs Secretary Anuradha Thakur to RBI board

The Reserve Bank on Friday said the government has...

Explained — The key factors behind the 5% surge in CreditAccess Grameen shares

Shares of Microfinance player CreditAccess Grameen Ltd. are trading...