Response to Trump’s tariffs: The European Commission has prepared trade countermeasures against the US worth 72 bln euros

In the event of the introduction of 30% tariffs on European goods announced by US President Donald Trump, the European Commission has prepared a package of countermeasures that could affect imports of American goods worth a total of 72 billion euros.

The European Commission’s proposal was presented at a meeting of EU trade ministers on July 14 by European Commissioner for Trade and Economic Security Maroš Šefčovič, Deutsche Welle reports.

He stressed that the EU hopes to reach an agreement with the US on customs tariffs through negotiations. According to him, Brussels approached the negotiations with Washington “constructively and with full intensity”.

However, the EU must be ready for any development, “including, if necessary, well-considered and proportionate measures to restore balance in our transatlantic relations”, Šefčovič warned.

He recalled that the EC has postponed the introduction of countermeasures against American steel and aluminum products, which were supposed to come into force on the night of Tuesday, July 15, until early August for the second time.

“Today, the Commission is providing member states with a proposal for a second list of goods, imports from the United States worth about 72 billion euros. They will now have the opportunity to discuss it,” the European Commissioner said.

Šefčovič noted that this list is not exhaustive, so the EU may resort to other measures. He also said that the EU is “redoubled its efforts to open new markets” for its goods.

As reported, in early July, US President Donald Trump began sending letters to country leaders warning of an increase in tariffs from August 1.

In particular, he warned of the introduction of new 30% tariffs on EU goods, which will come into effect from that date if the parties fail to reach another agreement.

European Commission President Ursula von der Leyen responded by warning that the tariffs would disrupt key transatlantic supply chains, hurting businesses and consumers on both sides of the Atlantic.

The EU has also decided to delay the introduction of new tariffs on steel and aluminum from the United States for the second time until August 1, hoping to reach a negotiated agreement.

Tags: EU, USA, duties