European Union countries will try to present a united front in the coming days against US President Donald Trump's tariffs, likely approving the first set of targeted countermeasures on US imports worth up to $28 billion, Reuters reports.
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The 27 EU countries face 25% import duties on steel and aluminium, as well as on cars, and “reciprocal” tariffs of 20% on many other goods.
Trump's tariffs cover about 70% of EU exports to the US, worth a total of 532 billion euros ($585 billion) last year, with duties likely to apply to copper, pharmaceuticals, semiconductors and timber.
The European Commission, which coordinates EU trade policy, will propose to member states on Monday evening a list of US goods on which additional duties will be imposed.
What goods will the EU impose additional duties on?
The list should include American meat, grains, wine, lumber and clothing, as well as chewing gum, dental floss, vacuum cleaners and toilet paper.
One product that has generated more attention and controversy in the EU is bourbon. The European Commission has proposed a 50% tariff on it, prompting Trump to threaten a 200% counter-tariff on EU spirits if the bloc follows through.
Wine exporters France and Italy have already expressed concern. The EU, whose economy relies heavily on free trade, is keen to ensure broad support for any retaliatory measures to keep the pressure on Trump and eventually force him to the negotiating table.
Meeting in Luxembourg
On Monday, April 7, Luxembourg will host the first pan-European political meeting since Trump announced the massive tariffs. Trade ministers from the 27 EU countries will exchange views on the impact of the new duties and the best strategy to respond.
EU diplomats said the main aim of the meeting was to send a unified message of readiness to negotiate with Washington on lifting the tariffs, but also to demonstrate resolve to take retaliatory measures if the talks fail.
“Our biggest fear after Brexit was the loss of unity and the conclusion of separate bilateral agreements, but after three or four years of negotiations this has not happened. Of course, the situation is different now, but everyone understands the importance of a common trade policy,” said one EU diplomat.
Let us recall
US President Donald Trump announced the introduction of duties on all goods imported from abroad. The Republican announced this on Wednesday, April 2, at a press conference in the White House garden. The basic tariff will be 10%, but for many countries it turned out to be higher.
Customs duties on goods from China will be 34%, from EU countries – 20%, from Switzerland – 31%, from Great Britain – 10%, from Ukraine – 10%, from Israel – 17%, from Kazakhstan – 27%. One of the highest duties is imposed on Vietnam (46%), Cambodia (49%), Laos (48%). Russia is not mentioned in the list.
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