The European Union is considering the possibility of swiftly imposing a 30% tariff on imports of goods from the U.S. valued at around €100 billion if a trade agreement with Washington is not reached and the U.S. follows through on threats to impose tariffs on European goods after August 1.
This is reported by Finway
Countermeasures Package and List of Goods
As part of the prepared countermeasures, the EU intends to combine an already approved list of tariffs on American goods worth €21 billion with a previously proposed new list worth an additional €72 billion. This will create a unified package of measures affecting a wide range of industrial products, including Boeing airplanes, American cars, and bourbon. Tariffs on these goods will be set at 30%, matching the rate announced by the U.S.
“Tariffs will be ready to be implemented as early as August, but only in the event of failed negotiations and the actual imposition of tariffs by the U.S.”
Additional Measures in Case of Escalation
The EU’s plans have emerged amid a hardening of Washington’s stance in negotiations, prompting some European countries, particularly Germany, to become more resolute in defending their economic interests. If no agreement is reached, in addition to tariffs, the European Union may consider introducing new taxes on American tech companies, restricting investments from the U.S., or partially limiting American companies’ access to the EU market.