EU prepares to impose retaliatory tariffs on 72 billion euros of US goods

According to ChainCatcher, citing Jinshi News, Maroš Šefčovič, the European Commissioner responsible for trade and economic security, stated that if trade negotiations between the US and the EU fail, the EU is prepared to impose additional retaliatory tariffs on US imports worth 72 billion euros (approximately 84 billion US dollars).

As the EU and the US strive to reach a trade agreement, US President Trump announced that starting August 1, a 30% tariff will be imposed on EU imports. On the 14th, EU member state ministers held a meeting in Brussels to discuss how to respond to Trump’s latest statement and to prepare countermeasures.