The European Commission has announced a new list of U.S. goods valued at €72 billion that may face EU tariffs if ongoing tariff negotiations with Washington do not yield results.
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At a recent meeting in Brussels, trade Commissioner Maros Šefčovič unveiled this proposal, highlighting that it encompasses “approximately 72 billion euros’ worth of U.S. imports.” This development follows U.S. President Donald Trump’s threats to impose a 30% tariff on EU products if an agreement isn’t reached by August 1.
Despite the turbulent landscape, EU trade ministers remain optimistic about securing a deal with the U.S. before the impending deadline to prevent the imposition of damaging duties. Denmark’s Foreign Minister, Lars Lokke Rasmussen, emphasized unity among the ministers, stating, “There was a total unified position among the ministers that we should be ready to respond if needed.”
The EU has also prepared a separate list of U.S. imports worth €21 billion linked to previous tariffs on steel and aluminum, though it has chosen to hold off on implementing these measures in the pursuit of a favorable agreement by August.
Šefčovič, representing all 27 EU member states in these negotiations, insisted that reaching a deal is a top priority but acknowledged calls from nations like France for the EU to leverage its negotiating power more assertively. “The current uncertainty caused by unjustified tariffs cannot persist indefinitely,” he remarked, reinforcing that the EU is readying itself for “all outcomes” and may implement “well-considered, proportionate countermeasures.”
European Commission President Ursula von der Leyen, in a gesture of goodwill, postponed a package of retaliatory measures set to counter U.S. steel and aluminum tariffs, highlighting the EU’s commitment to dialogue. However, diplomats have indicated that an alternative package of retaliatory actions will be presented to trade ministers, ready to be enacted if Trump follows through with his 30% tariffs.
In a more assertive tone, the EU signaled in May that it could target a broader array of U.S. goods—including cars and aircraft—if negotiations were to stall. The final list is projected to be valued at €72 billion.
French Trade Minister Laurent Saint-Martin stressed the urgency of retaliation planning, advocating for a comprehensive strategy devoid of restrictions. “If you hold anything back, you are not strengthening your hand in negotiations,” he articulated at the Brussels discussions. “Obviously, the situation since Saturday requires us to change our strategy.”
Echoing this sentiment, Denmark’s Foreign Minister Rasmussen acknowledged the need for Brussels to exhibit its strength, stating, “We don’t want any kind of trade war with the U.S… we don’t want to escalate things,” while adding, “There’s an old saying: If you want peace, you have to prepare for war.”
As various EU nations with differing levels of export reliance on the U.S. grapple with their approach, French President Emmanuel Macron urged the Commission to “resolutely defend European interests” and increase preparations for countermeasures. German Chancellor Friedrich Merz expressed a similar commitment, revealing he has been in dialogue with Macron, Trump, and von der Leyen in an effort to facilitate a resolution.
From a broader perspective, while Brussels has readied tariffs on around €21 billion worth of U.S. goods in response to prior metal import levies imposed by Trump, these measures have been delayed in light of ongoing negotiations and have now been suspended until early August.
Since re-assuming the presidency in January, Trump has enacted numerous tariffs that have created uncertainty in financial markets and raised concerns regarding a potential global economic downturn. Nonetheless, the administration faces pressure to deliver on its promise of trade agreements amidst an evolving diplomatic landscape.
As U.S. officials unveil only a couple of deals—specifically with the U.K. and Vietnam—alongside temporary tit-for-tat duties with China, the clock is ticking toward potential tariffs increasing from a baseline of 10%, initially slated for last Wednesday but postponed to August 1 by Trump.
Minister of State for European Affairs Thomas Byrne called for Europe to “work our hardest” for a deal before the August 1 deadline, stating, “That gives us certainty; it protects investments; it protects jobs.”
Edited By Ali Musa
Axadle Times International – Monitoring.
