EU readies countermeasures against U.S. goods - report

The European Union plans to impose 30% tariffs on U.S. goods totally worth around 100 bln euro if the U.S. imposes that rate on most of the bloc’s exports after August 1, Bloomberg reported.

The EU’s retaliatory tariffs will come into force in August if the parties fail to reach a compromise and the U.S. introduces 30% tariffs announced by President Donald Trump on most of the bloc’s exports, according to sources.

The EU would combine an already approved list of tariffs on 21 bln euro of U.S. goods and a previously proposed list on an additional 72 bln euro of American products into one package, the agency reported, citing a European Commission spokesman. The U.S. exports include industrial goods such as Boeing aircraft, U.S.-made cars and bourbon whiskey.

Earlier, Trump announced a 30% tariff on all European exports from August 1, in addition to 10% tariffs already in place on EU steel, aluminum, and cars.