EU Plans Massive Tariffs on U.S. Goods Amid Trade Tensions

The European Union is preparing to implement additional tariffs on U.S. goods valued at about 100 billion euros ($113.26 billion) if forthcoming trade discussions do not yield satisfactory results, according to a Bloomberg News report.

These potential retaliatory measures will be unveiled to EU member states by Wednesday. The bloc plans to hold consultations for a month before finalizing the list of goods subject to the new tariffs, as reported by individuals familiar with the issue.

Such a move highlights the ongoing tensions between the EU and the U.S. as they navigate complex trade relations, underscoring the financial implications of unresolved trade disagreements. With the current exchange rates, $1 equals 0.8829 euros.

(With inputs from agencies.)