US EditionEU to ramp up retaliation plans as US tariff deal prospects dim
BELGIUM, JUL 21 – The European Union considers wide-ranging countermeasures including its anti-coercion instrument as U.S. threatens 30% tariffs on $600 billion of EU exports starting August 1.
- Ahead of August 1, Trump threatened a 30% tariff, prompting EU envoys to meet this week to plan countermeasures.
- Earlier this month, the US pushed for a near-universal tariff on EU goods exceeding 10%, with limited exemptions, after imposing heavier levies on key sectors.
- EU estimates show US duties affect €380 billion in exports, while the ACI could allow taxes on US tech giants and curb investments.
- Such retaliation may trigger a wider transatlantic trade rift, and tougher US tactics could follow if the EU retaliates.
- With talks faltering, the EU is preparing swift contingency plans, while EU diplomats discuss activating the anti-coercion instrument against coercive actions.
51 Articles
51 Articles
Brussels. The European Union (EU) is looking at a broader set of countermeasures to the United States, as the prospects for an acceptable trade agreement with Washington faded, according to the bloc’s diplomats. An increasing number of EU members, including Germany, see the possibility of applying far-reaching “antiquertion” measures that would allow the bloc to target US services and other sectors in the absence of an agreement. The European Co…
The negotiations on tariffs between the EU and the US are at their most sensitive stage, says Olof Gill, spokesperson for the EU Commission on trade issues. – All negotiations are psychology, Olof Gill tells TT.
Last Monday, Commissioner Maros Sefcovic , the European negotiator, published a message on social networks in which he thanked the support of national governments for their management and presumed that in these pulses the EU “never withdraws from the dialogue table without having done everything possible, especially considering how close we are to reaching an agreement and the clear benefits of a negotiated solution. But we must be prepared for …
With cautious optimism, Wall Street opens the heaviest week of the current reporting season. Strong quarterly figures from Verizon give the telecommunications industry a boost. In addition, EU investors pay attention to the trade conflict with the EU.
On August 1st, the deadline for an agreement in the customs dispute with Trump ends. For the first time, the EU could use an instrument to exclude US companies from public contracts in Europe.
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