EU prepares €72 billion in counter-tariffs after Trump’s new trade measures

The European Union is preparing to impose counter-tariffs worth €72 billion on US imports in response to new trade measures announced by President Donald Trump, EU Trade Commissioner Maroš Šefčovič confirmed on July 14.

Speaking after a meeting of EU trade ministers in Brussels, Šefčovič said the bloc is still aiming to resolve the escalating trade dispute through negotiations, but is ready to act if talks fail, Caliber.Az reoports per foreign media.

The move follows Trump’s announcement that the United States will impose 30 per cent tariffs on EU imports starting August 1, citing persistent trade imbalances.

In response, EU trade ministers convened to finalise a package of countermeasures first proposed by the European Commission in May. The initial proposal targeted industrial and agricultural products worth approximately €95 billion in annual import value. After consultations with EU capitals and industry representatives, the list was revised and narrowed down to €72 billion in goods.

Šefčovič did not disclosed which items were removed from the initial list, but emphasised that the revised package has been shared with member states and is ready to be implemented if necessary.

By Sabina Mammadli