EU consolidates €93 billion tariff retaliation package against US

The European Union is preparing a unified response to US tariffs by combining two separate sets of retaliatory measures into a single package worth €93 billion, a spokesperson for the European Commission confirmed on July 23.

“To make our countermeasures clearer, simpler, and stronger, we will merge lists 1 and 2 into a single list,” said Olof Gill, the Commission’s trade spokesperson, speaking to reporters, Caliber.Az reports, citing foreign media.

The first of the two lists is currently on hold until August 6, while the second list is still pending approval by the EU’s 27 member states.

Once merged, the list will target a range of US exports to the EU — including bourbon, aircraft, and soybeans — totalling approximately €93 billion. The first set of measures stems from the Trump administration’s imposition of steel and aluminium tariffs in March, while the second list was only recently finalised.

Gill noted that the merged package is scheduled to take effect on August 7, but stressed that the European Commission retains the authority to delay its implementation if necessary.

This step follows a recent breakdown in trade discussions, exacerbated by US President Donald Trump’s renewed threats to impose 30 per cent tariffs on EU goods if no agreement is reached by August 1.

“Our priority remains negotiations, but we are also preparing for all possible outcomes,” Gill emphasised. He added that EU Trade Commissioner Maroš Šefčovič was expected to hold talks with US Commerce Secretary Howard Lutnick later the same day.

Meanwhile, Trump announced a separate agreement with Japan overnight, which includes a uniform 15 percent tariff, covering vehicles among other items. The EU, for its part, continues to push for guarantees regarding industrial exports it sends to the US.

By Tamilla Hasanova