All EU Retaliation Tools Against US on Table, Cuerpo Says

All EU Retaliation Tools Against US on Table, Cuerpo Says

The European Union needs to be open to all potential means of retaliation against US tariffs, according to Carlos Cuerpo, the Spanish minister for Economy, Trade and Business.

Green Chairman Brantner has spoken out against EU general retaliation in the customs dispute with the US.

Such a move would align the EU with responses already announced by China and Canada, marking an early escalation of a possible global trade war, with the risk of costing billions of consumers and pushing world economies into recession.The bloc of 27 member states faces tariffs of 25 percent on imports of automobiles, steel and aluminum, as well as with “reciprocal” tariffs of 20%, starting on Wednesday, for almost all other goods.

The sword of Damocles of US tariffs continues to loom over the markets. After the collapse of the world stock exchanges following Donald Trump's announcement last Tuesday, investors, families and businesses will observe any sign of the White House and any retaliation from other countries next week to understand what to expect. On Monday, EU trade ministers, whose overseas exports will be subject to a 20% duty, will meet in Luxembourg to discuss …

The EU is weighing up its response to US President Donald Trump's tariffs, with fines against some US tech companies, and Elon Musk.

The Trade Commissioner recently visited Beijing to "encourage a more balanced and cooperative trade relationship," and France manages to postpone the possible punishment of brandy in retaliation for tariffs on electric cars.Sánchez travels this week to strengthen ties with the Asian giantThe European Union is looking for new trade alliances in the face of Trump's challengeSánchez seeks in Vietnam and China to expand markets to save US tariffs Th…