Europe's Bold Trade Retaliation: Countermeasures on U.S. Imports Loom
The European Commission has proposed up to 95 billion euros in countermeasures targeting U.S. imports amid ongoing tariff negotiations. This comes as the EU faces significant tariffs on its exports to the U.S. The EU remains committed to finding a solution but prepares for possible retaliatory actions.
The European Commission has announced proposed countermeasures targeting up to 95 billion euros of U.S. imports if diplomatic efforts to resolve tariff disputes with Washington do not succeed. This move, unveiled on Thursday, is in response to U.S. tariffs on EU car exports and a wide range of other goods.
The commission, responsible for coordinating trade policy for the European Union's 27 member states, has opened a public consultation period until June 10, allowing member countries and businesses to provide feedback. Ursula von der Leyen, the Commission President, stated the EU's commitment to finding a negotiated solution, while preparing for any outcome.
The stakes are high as the EU deals with 25% tariffs on steel, aluminum, and cars, in addition to reciprocal tariffs for other goods. The European Commission aims for a proportional response without escalating tensions and considers filing a WTO complaint if the situation deteriorates further.
(With inputs from agencies.)
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