After Trump letter: EU presents new list of counter-tariffs

Following US President Donald Trump 's new tariff announcements, the EU is preparing to impose additional retaliatory tariffs on imports from the US worth €72 billion. This was announced by EU Commissioner Maroš Šefčovič following a trade ministers' meeting in Brussels.

The preparations for the countermeasures involve a list of industrial and agricultural products from the USA that would be affected by new EU tariffs if European efforts for an amicable settlement fail. This list was recently slightly adjusted following a public consultation. It originally included imports from the USA to the EU worth as much as €95 billion.

Šefčovič initially did not say which products had been removed from the list. It also included symbolically relevant products such as American aircraft, cars, and bourbon whiskey.

The EU Commissioner had previously expressed disappointment over Trump's announcement that he would impose new 30 percent tariffs on imports from the EU starting August 1. "We spent weeks negotiating an agreement in principle, and I think we were almost there," he said. Trump's announcement now brings "a completely different dynamic."

At the same time, Šefčovič warned that the implementation of Trump's plans would have drastic effects on transatlantic trade. "Let's be honest: a tariff of 30 percent would amount to a de facto trade ban," he said. If tariffs of 30 percent or more were to come into force, significant negative effects on both sides of the Atlantic would be expected.

The EU Trade Commissioner emphasized that he would continue the dialogue with the US to reach a negotiated solution by August 1. This is the date on which Trump announced the entry into force of a 30 percent tariff on imports from the EU.