The EU is preparing retaliatory tariffs for €72 billion
Economy
The European Union has published a list of 72 billion euros worth of American goods that could fall under retaliatory tariffs if the US does not abandon the introduction of 30% tariffs on European imports from August 1st.
The trade ministers of 27 EU countries gathered in Brussels to develop a unified position. Although the alliance continues to rely on dialogue with Washington, it also states its full readiness to take harsh measures if negotiations fail.
The list of goods prepared by the European Commission after consultations with industrialists and member states includes Bourbon whiskey, aviation products, and a number of industrial goods. This list still needs to be officially approved at the EU level.
"We must not rule out any options. If the EU is restrained, it will lose its balance in negotiations," emphasized Laurent Saint-Martin, France's Minister Delegate for Foreign Trade.
Trade European Commissioner Marosh Shefchovic stated that concreteness is needed now - the time for abstract reasoning has passed. According to experts, the EU's firm and clear stance could influence the position of President Donald Trump's administration.
At the same time, European Commission President Ursula von der Leyen emphasized that Europe is not seeking escalation and leaves the door for diplomacy open: countermeasures will be applied only in extreme cases.
"We have a little time to change the course of events. But we must show that we are ready to act," said Tobias Görke, Senior Research Fellow at the European Council.
Brussels hopes to avoid a trade war, but, as stated in the corridors of the European Union, is ready for all scenarios.
The list of goods prepared by the European Commission after consultations with industrialists and member states includes Bourbon whiskey, aviation products, and a number of industrial goods. This list still needs to be officially approved at the EU level.
"We must not rule out any options. If the EU is restrained, it will lose its balance in negotiations," emphasized Laurent Saint-Martin, France's Minister Delegate for Foreign Trade.
Trade European Commissioner Marosh Shefchovic stated that concreteness is needed now - the time for abstract reasoning has passed. According to experts, the EU's firm and clear stance could influence the position of President Donald Trump's administration.
At the same time, European Commission President Ursula von der Leyen emphasized that Europe is not seeking escalation and leaves the door for diplomacy open: countermeasures will be applied only in extreme cases.
"We have a little time to change the course of events. But we must show that we are ready to act," said Tobias Görke, Senior Research Fellow at the European Council.
Brussels hopes to avoid a trade war, but, as stated in the corridors of the European Union, is ready for all scenarios.
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