EU prepares retaliatory tariffs on US goods amid trade dispute

The European Union has agreed on a multi-billion pound list of potential retaliatory tariffs of up to 30 percent in the trade dispute with the US. If negotiations fail, countermeasures could quickly be imposed on US exports to the EU worth more than 90 billion euros. The Deutsche Presse-Agentur learned this from EU sources. The retaliatory tariffs are to come into force on August 7, should there be no negotiated solution by then.

The countermeasures reportedly comprise an already agreed list of levies on US imports worth 21 billion euros. Other imports worth around 72 billion euros are also affected. A commission spokesperson stressed on Wednesday that the EU's main focus remained on reaching an agreement with Washington.

The EU and the US are currently trying to prevent further escalation in the tariff conflict between the two trading powers. About two weeks ago, US President Donald Trump announced that he would introduce new high tariffs from August 1 and warned the EU against countermeasures.

Trump had held out the prospect of lowering threatened tariffs on the import of European products on Wednesday night – if the European Union opened its market more to the US. Speaking at an AI event, the Republican said of the ongoing negotiations: "If they agree to open the union to American companies, then we will levy a lower tariff." He said they were in serious negotiations.

This article was translated to English using an AI tool.

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