The European Union is preparing for the possible introduction of a 30% tariff on American goods worth approximately 100 billion euros. This move is being considered as a response to the likely implementation of similar tariffs on European products by the US if a new trade agreement cannot be reached, and President Donald Trump proceeds with his plans to raise tariffs on goods from the EU.
This is reported by Finway
Which Goods Will Be Subject to the New Tariffs
According to information obtained from sources, key items of American exports that will fall under the 30% tariff include Boeing airplanes, cars manufactured in the US, and bourbon. This could significantly impact trade volumes between the two parties.
The European Commission will combine its package of measures with an already approved list of tariffs amounting to 21 billion euros and an additionally proposed list of 72 billion euros. Thus, the total volume of American goods that will be subject to the new restrictions will reach approximately 100 billion euros.
“European tariffs will hit about a third of American exports to the EU, based on the fact that last year American goods worth 335 billion euros were supplied to the bloc,” the agency states.
Alternative Measures and the EU’s Position
According to sources, if negotiations with the US fail, new tariffs could be introduced as early as August. Furthermore, an increasing number of EU member states are considering the possibility of using another powerful tool to counter economic coercion. Support from a qualified majority of member states is required for its implementation.
This mechanism will allow the European Union to take a wide range of countermeasures, including introducing new taxes on American technology corporations, imposing targeted restrictions on investments from the US, and limiting access to the European market.
Despite this, most European capitals are focused on further negotiations with the US to avoid escalating the trade conflict. US Treasury Secretary Scott Bessent emphasized in his interview that there has been progress in the dialogue with the EU.