Government rules out cost-of-living measures to fend off effects of potential US tariffs

The targeted imports, which amount to a total value of EUR 95 billion, will only be taxed if the European Union fails to reach an agreement on the lifting of the customs measures decided by Donald Trump.

Government rules out cost-of-living measures to fend off effects of potential US tariffs

It comes as the EU launched a 'public consultation' on a list of US imports which could become subject to EU countermeasures if negotiations do not result in the removal of US tariffs

The European Union (EU) announced on Thursday that it intends to apply tariffs to US products worth 95 billion euros (over $100 billion), especially cars and aircraft. in the event that they do not reach an agreement with the Trump administration before. In addition, European Commission President Ursula von der Leyen announced that the supranational body will file a complaint with the World Trade Organization (WTO).Read more]]>

Meanwhile the United Kingdom and the United States come to an agreement that they call "revolutionary" and "really important."

The patience of the European Commission is beginning to run out with Donald Trump and his economic team. The 90-day truce to reach an agreement in the tariff war and avoid massive tariff escalation continues to fail to deliver results while European products have to pay 10% extra in US customs to access that market; steel and aluminum continue to be penalized with an additional 25%; and the automotive sector also pays that amount.So Brussels has…

EU prepares new tariffs on US imports including cars if deal fails

Brussels – The European Commission on Thursday unveiled plans to impose additional tariffs on US imports worth up to 95 billion euro if negotiations with Washington do not lead to a solution to the trade conflict. A list of targeted products published on Thursday covered industrial and agricultural goods, including cars and car parts, aeroplane parts, machines, and fuels, as well as livestock, meats, fresh produce, chocolates, wine and other alc…