Aircraft, machinery, cars, chemicals, and medical devices are the main high-value items on the list of American products that the European Commission intends to impose tariffs on if discussions with Washington do not lead to a trade agreement.
This is the second package of measures proposed by the European Commission, which oversees trade policy for the European Union, made up of 27 nations. It is designed to respond to American tariffs on cars and auto parts and a current base tariff of 10%, as reported by Reuters.
The European Commission's reaction comes after American President Donald Trump threatened to impose a 30% basic customs duty on imports from the EU, starting on August 1, a level that European officials consider unacceptable and that would disrupt normal trade between two of the world's largest markets.
The list sent by the European Commission to EU member states covers imports of goods from the US worth 72 billion euros (84.1 billion dollars). It also includes electrical and precision equipment, as well as agricultural and food products, a range of fruits and vegetables, along with wine, beer, and spirits, totaling 6.35 billion euros.
A first package concerning American goods worth 21 billion euros was approved in April, but then immediately suspended to allow negotiations with the American administration. This suspension was recently extended until August 6.
The Commission initially presented the second package of measures in May for public consultation. The proposal then targeted American goods worth 95 billion euros. Since then, it has been reduced, but the most significant products have remained.
There is no specific date by which EU members must approve the package.
EU officials stated on Monday that they are still trying to reach an agreement to avoid the strong impact of Trump's tariffs, but European Commissioner for Trade Maros Sefcovic stated that member states agree that the EU must take countermeasures if discussions with the US fail.
"We negotiate first, but we prepare at the same time," stated European Commissioner Maros Sefcovic after meeting with trade ministers from the 27 member states.
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A 30% tariff rate would make it nearly impossible to continue trade as before, with enormous consequences for supply chains and negative impacts on both sides of the Atlantic, said Sefcovic. "And therefore, I think we need to and certainly will do everything we can to prevent this super-negative scenario," he stated.
The EU Commissioner reiterated the commitment to dialogue until the August 1 deadline set by American President Donald Trump. However, he warned that Brussels must have a response plan in case of failure: "You need two hands to clap," the Commissioner said, emphasizing that the EU will resort to measures if the American side does not cooperate.
The list of retaliatory trade measures worth 72 billion euros does not exhaust all possible options. "All tools remain on the table," warned Sefcovic.
T.D.