EU Intends to Institute Tariffs on Imports from the U.S.A. Valued at €95 Billion
Tariffs Battle: European Commission Considers Countering US Imports Worth $110 Billion
In response to U.S. President Donald Trump's proposed tariffs, the European Commission is weighing in with a retaliatory measure of its own. This move follows U.S. tariffs of 25% on steel, aluminum, cars, and other goods. The EU's proposed retaliatory duties would impact a variety of U.S. exports, including:
- Wine and fish
- Aircraft and cars
- Chemicals, electrical goods, and health products
- Machinery
The Commission, responsible for coordinating trade policy among the 27 EU member states, has launched a month-long consultation period, offering interested parties the opportunity to voice their opinions. Once feedback is gathered, the final decision on tariffs will be made.
In April, the EU had earlier approved tariffs on U.S. goods worth around $25 billion, including corn, wheat, motorcycles, and clothing. These retaliatory measures, a reaction to U.S. metal tariffs, were temporarily put on hold after Trump announced a 90-day moratorium. Current U.S. tariffs amount to about 70% of EU-U.S. trade, but new tariffs proposed by Trump on pharmaceuticals, semiconductors, critical minerals, and trucks could drive this figure up to 97%.
(Insights: The potential EU retaliatory measures target a range of U.S. products, including agricultural and processed foods, industrial products, beverages, and other items such as medical devices and chemicals. The EU is considering additional tariffs on up to $100 billion of U.S. imports if negotiations fail. The consultation period on proposed retaliatory measures is open until June 10, 2025.)
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- The European Commission's proposed counter-tariffs, scheduled to reach $110 billion, will cover a wide range of products such as wine, aircraft, chemicals, machinery, and health products.
- With their consultation period open until June 10, 2025, the Commission seeks feedback from interested parties to make final decisions on the tariffs.
- If negotiations fail, the EU is considering additional tariffs on up to $100 billion worth of US imports, including agricultural goods, motorcycles, clothing, and pharmaceuticals.
- The ongoing tariff battle between the EU and US, and the potential retaliatory measures, have sparked interest in certain defense stocks as geopolitical tensions and military spending may continue to drive demand.
