EU threatens €100 billion in tariffs over Trump’s trade measures

According to The Guardian, the European Union warned that if Donald Trump does not accept a trade deal by next week, the bloc will impose tariffs on U.S. goods amounting to nearly €100 billion.

On Wednesday, the European Commission announced that it plans to merge two previously prepared lists of American goods targeted for retaliatory tariffs. These measures would be enacted if the U.S. President continues imposing import duties. If Brussels follows through with its threat, certain U.S. imports will be subject to new tariffs.

Should the plan be approved by EU member states—which is expected to go to a vote in the coming days—the reciprocal tariffs, valued at €93 billion, could take effect starting August 7.

Olof Gill, the European Commission’s trade spokesperson, said: “The EU’s primary focus remains reaching a negotiated solution with the U.S., but we are also continuing preparations for all possible scenarios.”

Maroš Šefčovič, the EU’s High Commissioner for Trade, was scheduled to speak with U.S. Commerce Secretary Howard Lutnick on Wednesday afternoon before presenting a report to EU ambassadors.

According to EU diplomats, the bloc is reviewing a set of retaliatory plans in response to the U.S. and Trump’s tariff policies. European diplomats note that the chances of reaching a mutually acceptable trade deal with Washington are diminishing, and Europe feels compelled to expand its countermeasures against U.S. tariffs.