The European Union has given the green light to countermeasures worth 93 billion euros, which will be implemented from August 7 if trade negotiations with the US fail, European diplomats announced.
The EU has prepared a list of American products, from bourbon to cars and airplanes, on which tariffs will be imposed if the US under President Donald Trump implements 30% customs tariffs on European imports, as they have threatened to do from August 1.
Trump threatens EU: If you don’t open your markets, I’ll impose massive tariffs
In a move that dangerously escalates tensions in the trade war with Europe, Donald Trump sends a stern message to the EU: “Open your markets, or much higher tariffs are coming.” After his new agreement with Japan, the American president declared he wouldn’t hesitate to impose tariffs of up to 30% on European exports if there’s no market opening toward the US.
American exports, which include industrial products such as Boeing aircraft, American-made cars, and bourbon, will face tariffs corresponding to Trump’s 30% threat, according to anonymous sources from international agencies. The tariffs would be ready to take effect next month, but only if no agreement is reached and the US implements its tariffs after the August deadline, Bloomberg sources added.
