EU presents new list for counter-tariffs
Brussels (dpa) – The EU is preparing additional counter-tariffs on imports from the USA worth 72 billion euros following the new tariff announcements by US President Donald Trump. At a trade minister meeting in Brussels, there was agreement that one should be prepared for any eventuality, said the responsible EU Commissioner Maros Sefcovic at a press conference.
At the same time, he made it clear that the EU will continue to strive for a negotiated solution until the beginning of August. After that, Trump plans to impose tariffs of 30 percent on imports from the EU, following his announcement from last Saturday.
Sefcovic warned that the implementation of Trump’s plans would have drastic effects on transatlantic trade. “Let’s be honest: A tariff rate of 30 percent would be equivalent to a de facto trade ban,” he said. If it were to come into effect, significant negative impacts on both sides of the Atlantic should be expected.
List initially included imports worth 95 billion euros
In the preparations for the countermeasures, there is a list of industrial and agricultural products from the USA that are to be affected by new EU tariffs if European efforts for an amicable settlement fail. It was recently adjusted slightly after a public consultation. Originally, it included imports from the USA to the EU worth even 95 billion euros.
Which products have been temporarily removed from the list, Sefcovic has not yet disclosed. He only stated that they can now be discussed again by the member states. The initial proposal list also included symbolically relevant US products such as airplanes, cars, and bourbon whiskey.
Trump’s letter brings “completely different dynamics”
Regarding Trump’s actions, both Sefcovic and the current Danish EU Council presidency expressed deep disappointment at the meeting. “We have been negotiating a framework agreement for weeks, and I think we were almost at the goal,” said the EU Commissioner. Trump’s letter now brings “a completely different dynamic.”
Danish Foreign Minister Lars Løkke Rasmussen called Trump’s announcement in his capacity as chair of the EU Trade Council “absolutely unacceptable and unjustified.” He also made it clear that the USA must expect determined countermeasures if they implement their announcements.
Counter-tariffs have already been decided in case the new tariffs on steel and aluminum imports introduced months ago are not lifted again. According to earlier EU statements, they affect exports from the United States worth a total of 21 billion euros and could be added to the tariffs on exports worth 72 billion euros.
Additionally, the EU Commission has recently prepared restrictions on certain EU exports of scrap steel and chemical products to the USA worth 4.4 billion euros. It also explicitly does not rule out the use of the new EU instrument against coercive measures. With this, for example, US companies could be denied access to public contracts in the EU.
Threatened trade war
Regarding further negotiations, Sefcovic said that despite Trump’s letter, he feels that his US counterparts are also ready for further negotiations. He is one hundred percent convinced that a negotiated solution is much better than the tensions that could arise in the event of further escalation after August 1, Sefcovic said: “This matter will not end well otherwise.”
The highly export-oriented German economy is considered particularly vulnerable in a trade war. According to an analysis by the Bundesbank, almost one in four jobs in this country depends on exports, which already shrank in 2024 and is now under additional pressure due to the tariff dispute with the USA. (July 14)
