12:34 26 July 2025
EU Approves €93 Billion Retaliatory Tariffs on US Goods Amid Trade Tensions
The European Union has approved a €93 billion package of retaliatory tariffs on US products, aiming to pressure Washington into a trade deal that would halve proposed 30 percent duties to 15 percent. The European Commission’s list, backed by all EU member states except Hungary, includes US-made aircraft, cars, wine, medical equipment, and electronics. The tariffs are set to take effect on August 7 unless an agreement is reached beforehand.
The package merges two earlier tariff proposals to create a unified, stronger response. Brussels hopes to avert the 30 percent US tariffs scheduled to take effect on August 1. The US has already imposed steep tariffs: 50 percent on steel and aluminum, 25 percent on cars and parts, and a 10 percent base tariff, now affecting €370 billion in EU exports—70 percent of total EU exports to the US.
The European Commission is also preparing a second package targeting US services and public procurement access. Despite the rising tensions, EU officials remain hopeful. “An agreement is within reach,” said Commission trade spokesperson Olof Gill, stressing Brussels’ focus on securing a deal beneficial to European citizens, companies, and consumers.
(EURACTIV)
