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Brussels to Develop Countermeasures in Response to Trump Administration's Tariffs

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Brussels to Develop Countermeasures in Response to Trump Administration's Tariffs. Source: Deutsche Welle
Brussels to Develop Countermeasures in Response to Trump Administration's Tariffs. Source: Deutsche Welle

In response to the United States' decision to impose new 30 percent tariffs, the European Union has begun preparing large-scale countermeasures. 

The Gaze reports this with reference to Deutsche Welle.

The new package of measures is expected to be presented to EU member states at a meeting on Monday. 

Such EU intentions were voiced at a meeting of trade ministers in Brussels by European Commissioner for Trade and Economic Security Maroš Šefčovič. 

“We had been negotiating an agreement in principle for several weeks, and I thought we were almost there,” he said. 

Italian Foreign Minister Antonio Tajani stated that the EU has prepared for a possible escalation of the trade dispute with the US by drawing up a list of customs measures worth 21 billion euros in case the talks fail. 

"The list of European tariffs worth 21 billion euros is ready, and a second one may be added. I am sure there will be progress. Tariffs hurt everyone, starting with the United States... I repeat: our long-term goal is zero tariffs," Tayyani said. 

On Saturday, July 12, US President Donald Trump announced the introduction of 30 percent tariffs on imports of goods from the EU and Mexico starting August 1. 

In his message, he declared that this decision was due to a long and significant trade deficit, accusing the EU of unfair trade policies. Trump also promised to cancel the duties if European companies move production to the United States. 

In response to Trump's announcement, the European Commission President Ursula von der Leyen warned that 30 percent tariffs on European exports would disrupt transatlantic supply chains and negatively impact businesses and consumers on both sides of the Atlantic. 

“At the same time, we will take all necessary measures to protect the interests of the EU, including the introduction of proportionate countermeasures, if necessary,” Ursula von der Leyen warned. 

As The Gaze previously reported, US President Donald Trump has postponed until April 2 the introduction of 25 percent duties on a wide range of goods from Canada and Mexico.

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