EU prepares single package of trade measures against US worth 93 bln euros

The European Union will combine two sets of measures in response to US tariffs into one that will be ready to be used if trade talks with the US fail.

This was announced today by the European Commission’s spokesman for trade Olof Gill, writes Politico.

“To make our countermeasures clearer, simpler and stronger, we will combine sets No. 1 and No. 2 into one list,” Gill told reporters.

The first set is currently suspended until August 6, while the second is awaiting a vote by the 27 EU member states.

The combined set will cover 93 billion euros of US imports into the EU, including bourbon, aircraft and soybeans. The first dates back to Trump’s steel and aluminium tariffs from March, while the second was recently finalized. Gill said the combined list will take effect on August 7, although the European Commission could suspend the measures for a longer period.

The move comes as talks have stalled in recent weeks after US President Donald Trump threatened to impose 30% tariffs on the EU if the two sides fail to reach a deal by August 1.

“Our priority is the negotiations, we continue to prepare for all outcomes in parallel,” Gill said. He added that Trade Commissioner Maroš Šefčovič was due to speak to US Commerce Secretary Howard Lutnik later today.

It was previously reported that EU lawmakers were due to meet this week to formulate a plan of action to respond to a possible no-deal scenario with Donald Trump. The US is now seeking a near-universal tariff on EU goods of more than 10%, with fewer and fewer exemptions, limited to aviation, some medical products and generic medicines, some alcoholic beverages and a range of manufacturing equipment needed by the US.

The Financial Times previously reported that Trump had stepped up his demands in trade talks with the European Union, demanding minimum tariffs of 15-20% in any deal with the bloc.

Tags: EU, USA, duties