EU considers imposing 100 billion euros of tariffs on US goods
(VOVWORLD) - The European Commission is drawing up more countermeasures targeting up to 100 billion euros (113 billion USD) worth of US goods in response to Donald Trump’s sweeping tariffs on EU exports.
 At the cargo port in Duisburg, Germany (File photo: Xinhua/VNA) |
The move comes amid a deadlock in bilateral trade negotiations, raising concerns over a potential large-scale trade war.
On Wednesday, European diplomatic sources said that the EU has drafted detailed plans for retaliatory measures in case a deal with the US cannot be reached. These measures aim to protect the EU's trade interests in response to a series of tariff hikes announced by President Trump in March.
More particularly, the decision to impose an additional 20% tariff on most imports from Europe has prompted the bloc to take action.
While the official implementation of the 20% tariff has been temporarily postponed until July to allow room for negotiations, a baseline 10% tariff remains in effect on goods from all 27 EU member states.
Key European exports such as steel, aluminum, and automobiles are also facing a 25% tariff, severely impacting the European economy.