EU readying 'countermeasures' if tariffs deal with US crumbles

2 days ago 2

The European Union is preparing “countermeasures” against the United States if the 2 sides cannot scope a woody aft astonishment U.S. tariffs connected alloy rattled planetary markets and analyzable the ongoing negotiations betwixt Brussels and Washington

BySAM MCNEIL Associated Press

BARCELONA, Spain -- The European Union connected Monday said it is preparing “countermeasures” against the United States aft the Trump administration's astonishment tariffs connected steel rattled planetary markets and analyzable the ongoing wider tariff negotiations betwixt Brussels and Washington.

EU Commission President Ursula von der Leyen and U.S. President Donald Trump agreed past week to “accelerate talks” connected a deal, but that if those commercialized negotiations neglect “then we are besides prepared to accelerate our enactment connected the antiaircraft side," European Commission spokesperson Olof Gill told a property league successful Brussels.

“In the lawsuit that our negotiations bash not pb to a balanced outcome, the EU is prepared to enforce countermeasures, including successful effect to this latest tariff increase,” Gill said.

He said the EU is finalizing an “expanded database of countermeasures” that would “automatically instrumentality effect connected July 14 oregon earlier.” That’s the day erstwhile a 90-day pause, intended to easiness negotiations, ends successful tariffs announced by the 2 economical powerhouses connected each other. About halfway done that grace period, Trump announced a 50% tariffs connected alloy imports.

Trump’s instrumentality to the White House has travel with an unrivaled barrage of tariffs, with levies threatened, added and, often, taken away. Top officials astatine the EU’s enforcement committee says they’re pushing hard for a commercialized deal to debar a 50% tariff connected imported goods.

The EU could perchance bargain much liquefied earthy state and defence items from the U.S., arsenic good arsenic little duties connected cars, but it isn't apt to budge connected calls to scrap the worth added taxation — which is akin to a income taxation — oregon unfastened up the EU to American beef.

The EU has offered the US a “zero for zero” result successful which tariffs would beryllium removed connected some sides concern goods including autos. Trump has dismissed that but EU officials person said it’s inactive connected the table.

The announcement Friday of a staggering 50% levy connected alloy imports stoked fearfulness that big-ticket purchases from cars to washing machines to houses could spot major terms increases. But those metals are truthful ubiquitous successful packaging, they’re apt to battalion a punch crossed user products from crockery to nuts.