Today, the European Union announced its intention to seek approval from EU members for counter-tariffs on €93 billion ($109 billion) worth of U.S. goods, while European Trade Commissioner Maros Sefcovic is scheduled to meet with U.S. Commerce Secretary Howard Lutnick.
As part of the initial set of countermeasures, the EU plans to combine an existing approved list of tariffs on €21 billion worth of US goods with a previously proposed list covering an additional €72 billion of American products into a single package, a European Commission spokesman stated.
The US exports facing tariffs include industrial goods such as Boeing Co. aircraft, US-made cars, and bourbon whiskey.
The tariffs would take effect if there is no deal and if US President Donald Trump follows through on his threat to impose a 30% tariff on most of the bloc’s exports after Aug. 1.
In an interview, US Treasury Secretary Scott Bessent said, “Talks are going better than they had been… I think that we are making good progress with the EU, but as I’ve said before, the EU has a collective action problem with 27 countries.”
The Commission said today that its main goal was to reach a negotiated agreement with the United States to prevent a 30% U.S. tariff.
By CEO NA Editorial Staff
