EU Prepares Retaliatory Tariffs Amid U.S. Trade Tensions

According to BlockBeats, the European Union is preparing to impose a 30% tariff on approximately €100 billion ($117 billion) worth of U.S. products if trade negotiations fail and U.S. President Donald Trump enacts his threat to levy a similar tariff on most EU exports after August 1. An EU Commission spokesperson stated that as part of the initial countermeasures, the EU plans to consolidate an approved tariff list targeting €21 billion of U.S. goods with a proposed list affecting an additional €72 billion into a comprehensive package. Sources indicate that U.S. exports, including Boeing aircraft, American-made automobiles, and bourbon whiskey, will face tariffs matching Trump's proposed 30%. These tariffs are set to take effect next month, contingent upon the breakdown of negotiations and the implementation of U.S. tariffs after the August deadline. A government official, speaking anonymously, mentioned that Berlin is even willing to support the activation of the EU's Anti-Coercion Instrument (ACI) if no agreement is reached. This tool is reserved for situations where negotiations fail to produce a resolution.