EU Prepares Retaliation to U.S. Tariff Escalation
The European Union plans countermeasures against U.S. tariffs impacting up to 97% of EU goods. Trade Chief Maros Sefcovic favors negotiation but insists on readiness for rebalancing if talks stall. With import tariffs on major sectors, the EU aims to maintain a level playing field during ongoing discussions.
The European Union is gearing up to implement countermeasures in response to a series of U.S. tariffs covering up to 97% of EU goods. European Trade Commissioner Maros Sefcovic confirmed the EU's readiness to take action if negotiations with the U.S. fall through.
Sefcovic emphasized that a negotiated settlement remains the EU's preferred outcome, appealing to the U.S. to work towards a balanced trade agreement. Currently, EU exports face a 25% tariff on steel and aluminum, with the potential for further increases after a 90-day pause initiated by President Trump.
To prepare for any trade disruptions, the EU has formed a task force to monitor imports affected by the U.S. tariff policy. This body is expected to provide initial findings by mid-May, as the EU seeks to maintain fair trade conditions during a critical negotiation period.
(With inputs from agencies.)
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