EU's Strategic Counter-Tariffs: Navigating Trade Tensions
The European Commission is preparing counter-tariffs on $109 billion of U.S. goods and aims for a negotiated solution to avoid 30% U.S. tariffs. Discussions with U.S. Commerce Secretary and EU members are ongoing. The EU looks cautiously at the U.S.-Japan trade agreement, seeking favorable terms.
The European Commission is gearing up to impose counter-tariffs on $109 billion worth of U.S. goods. This move comes as a strategic response to potential 30% U.S. tariffs on the EU, which President Donald Trump is expected to implement by August 1.
European Trade Commissioner Maros Sefcovic is scheduled for discussions with U.S. Commerce Secretary Howard Lutnick, amid efforts to reach a negotiated settlement. In tandem, the Commission is preparing a consolidated list of counter-tariffs totaling 93 billion euros, pending EU approval.
The Commission's actions are closely observed in light of a recent U.S.-Japan trade agreement. The deal sets a 15% baseline, notably lower than anticipated U.S. tariffs, influencing EU's negotiation strategy.
(With inputs from agencies.)
Google News