Media reports EU ready to hit back over US tariffs
(MENAFN) The European Union is preparing to impose 15% import tariffs on a range of U.S. products worth €93 billion ($109 billion) if a trade agreement with Washington isn’t reached by August, according to media reports.
The move comes as the U.S. accuses its trading partners of engaging in unfair practices, using tariff threats as negotiation tools. While the EU says it prefers a diplomatic resolution, it is making contingency plans should talks collapse.
EU diplomats finalized the list of targeted American goods on Thursday, with Hungary being the only member state opposing the measure, Euronews reported. The finalized list combines two earlier drafts—one of which was created in April after U.S. President Donald Trump introduced tariffs on European steel and aluminum. EU trade spokesperson Olof Gill stated the consolidation aimed to make the response "clearer, simpler, and stronger."
If implemented, the retaliatory tariffs would begin on August 7 and cover a wide range of U.S. exports, including automobiles and parts, aircraft, orange juice, poultry, soybeans, steel, aluminum, and luxury items like yachts. Bourbon whiskey was also included, despite pushback from France and Ireland, who were concerned about possible U.S. retaliation affecting their own wine and spirits industries.
Reuters noted that the EU is aiming for a framework deal similar to one recently negotiated between the U.S. and Japan. Such an agreement might allow the 15% U.S. tariff to remain, while offering exemptions for certain sectors such as aerospace, lumber, agriculture, and pharmaceuticals.
Meanwhile, Russian officials have criticized the EU’s response, suggesting the bloc remains overly influenced by Washington. Russian Security Council Deputy Chair Dmitry Medvedev mocked the EU’s economic prospects in April, claiming Moscow should simply “wait for the enemy’s corpse to float by,” referring to what he described as the EU’s declining economy.
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