In a bid to navigate ongoing trade tensions, the European Union has unveiled plans that include potential retaliatory tariffs against the United States, reflecting the urgency for a resolution in trade discussions.
E.U. Threatens Retaliatory Measures Against U.S. Amid Trade Negotiation Stalemate
E.U. Threatens Retaliatory Measures Against U.S. Amid Trade Negotiation Stalemate
European Union sets sights on a strong response to U.S. tariffs, outlining potential measures while pursuing negotiations.
The European Union (E.U.) announced on Thursday a strategy aimed at exerting pressure on the United States to engage in meaningful trade negotiations. The European Commission revealed preparatory steps, including developing lists of goods worth 95 billion euros (approximately $107 billion) that could be subjected to higher tariffs as a response to U.S. tariffs already imposed or announced. Additionally, the E.U. intends to initiate a dispute at the World Trade Organization (WTO) concerning broad tariffs and specific duties on automobiles and their parts.
The measures outlined by the E.U. will not immediate take effect; instead, European governments will enter a month-long consultation period to finalize the list of U.S. products targeted for tariffs. The proposed goods include agricultural commodities such as soybeans, meat, and bourbon, alongside manufactured items like sewing machines and airplane components.
European officials emphasize the intent to negotiate in good faith to avert lengthy tariffs, even as a trade agreement between the Trump administration and Britain is anticipated to be announced later. "We believe there are good deals to be made for the benefit of consumers and businesses on both sides of the Atlantic," stated Ursula von der Leyen, president of the European Commission.
The EU's move signifies a shift from mere discussions of retaliation towards a proactive approach in rebalancing the long-term trade relationship with the United States. This evolving stance underscores the likelihood that certain tariffs may endure over an extended period.
The measures outlined by the E.U. will not immediate take effect; instead, European governments will enter a month-long consultation period to finalize the list of U.S. products targeted for tariffs. The proposed goods include agricultural commodities such as soybeans, meat, and bourbon, alongside manufactured items like sewing machines and airplane components.
European officials emphasize the intent to negotiate in good faith to avert lengthy tariffs, even as a trade agreement between the Trump administration and Britain is anticipated to be announced later. "We believe there are good deals to be made for the benefit of consumers and businesses on both sides of the Atlantic," stated Ursula von der Leyen, president of the European Commission.
The EU's move signifies a shift from mere discussions of retaliation towards a proactive approach in rebalancing the long-term trade relationship with the United States. This evolving stance underscores the likelihood that certain tariffs may endure over an extended period.
