The European Union (EU) is gearing up to impose fresh tariffs on a wide range of US goods valued at around $113 billion if the ongoing trade negotiations between the two sides fail to produce satisfactory outcomes. A report published by Bloomberg News, which cited unidentified sources familiar with the matter, revealed that these planned retaliatory measures are set to be reviewed by representatives of EU member states as early as Wednesday. The review process is expected to extend over a month, allowing for in-depth consultations before finalizing the comprehensive list of targeted products.
In a parallel effort to maintain dialogue and push forward the stalled trade talks, the European Commission—the EU’s executive authority responsible for trade policy—plans to present a formal paper to US officials later this week. The document will likely outline proposals designed to invigorate discussions, focusing on key areas such as the reduction of existing trade and non-tariff barriers and encouraging increased American investments by European businesses.
Trade relations between the EU and the United States have faced mounting challenges, with little significant progress reported since formal negotiations resumed last month. According to officials, the bulk of American tariffs on EU products is expected to remain in force for the foreseeable future. Additionally, the EU disclosed on Tuesday that recent US trade investigations would raise the total value of European goods subject to US tariffs to a staggering €549 billion, further escalating tensions between the two major economic powers.
