bloomshorts EU Approves Counter-Tariffs on US Goods
European diplomats have confirmed that EU states have greenlit a 93-billion-euro package of counter-tariffs targeting US goods, effective August 7 should talks with the United States not yield an agreement. This decision comes in response to President Donald Trump’s unexpected threat of a 30-per-cent levy on EU goods unless a trade deal is reached by August 1.
Negotiations and Retaliatory Plans
While Brussels and Washington are reportedly nearing a compromise involving a baseline 15-per-cent levy on EU goods, the EU is not taking any chances. Detailed plans for retaliation are being finalized, encompassing a wide range of US products from soybeans to planes, cars, and whisky.
EU’s Firm Stance
With the backing of 26 EU countries, the bloc is prepared to impose tariffs of up to 30 per cent on the targeted goods. The European Commission, leading the trade negotiations, has been given the leeway to pursue talks but is also ready to enforce these measures if necessary. The possibility of sectoral exemptions is on the table, yet key EU capitals are advocating for a strong response to any US aggression.
Additional Measures
Beyond goods, the EU is also considering restrictions on US services companies, including those in the tech and financial sectors, as part of a broader strategy to safeguard its interests in the face of escalating trade tensions.
