In a strategic move, the European Union has announced plans that may lead to the imposition of retaliatory tariffs on U.S. products valued at nearly $107 billion as negotiations over trade intensify.
E.U. Plans Retaliatory Measures Against U.S. Trade Policies
E.U. Plans Retaliatory Measures Against U.S. Trade Policies
The European Union lays groundwork to impose tariffs in response to U.S. trade actions.
The European Commission reported on Thursday that officials are preparing a comprehensive list of American goods that could be subject to higher tariffs in retaliation to recent U.S. trade measures. This comes amid ongoing discussions intended to prompt the Trump administration towards more serious trade negotiations.
The plan includes escalating actions such as a World Trade Organization case against the United States concerning current tariffs on a range of goods, especially cars and car parts. While the tariffs are not set to take effect right away, European governments will spend the next month consulting on which products to target.
Among the American products that may face higher tariffs are agricultural goods like soybeans, meats, and bourbon, as well as various manufactured goods. Ursula von der Leyen, the president of the European Commission, expressed that while the EU is open to favorable trade agreements for both sides, they are also preparing for any eventualities that might arise from prolonged negotiations.
The EU's current shift away from mere discussion of retaliation to concrete preparations indicates a long-term approach toward rebalancing its trade relationship with the United States. The fate of these negotiations remains uncertain, especially as the Trump administration is set to announce a separate trade agreement with Britain.
The plan includes escalating actions such as a World Trade Organization case against the United States concerning current tariffs on a range of goods, especially cars and car parts. While the tariffs are not set to take effect right away, European governments will spend the next month consulting on which products to target.
Among the American products that may face higher tariffs are agricultural goods like soybeans, meats, and bourbon, as well as various manufactured goods. Ursula von der Leyen, the president of the European Commission, expressed that while the EU is open to favorable trade agreements for both sides, they are also preparing for any eventualities that might arise from prolonged negotiations.
The EU's current shift away from mere discussion of retaliation to concrete preparations indicates a long-term approach toward rebalancing its trade relationship with the United States. The fate of these negotiations remains uncertain, especially as the Trump administration is set to announce a separate trade agreement with Britain.
