EU to merge US retaliation packages into single €93 billion counterpunch
'While our priority is negotiations, we continue in parallel to prepare for all outcomes, including potential additional countermeasures,' EU Commission spokesperson for trade Olof Gill said in a statement.
'To make our countermeasures clearer, simpler, and stronger, we will merge [both] lists into a single list (not entering into effect until 7 August) and submit this to [EU countries] for approval.'
The €21 billion package, which targets soybeans, motorbikes, and jeans, was approved by member states in April and is currently due to enter into force on 7 August.
The €72 billion list, which will hit aircraft, cars, and electrical equipment, will be voted on and likely approved by EU countries on Thursday, according to one person familiar with the matter.
Gill added that EU Trade Commissioner Maroš Šefčovič will speak to US Commerce Secretary Howard Lutnick later on Wednesday, after briefing EU ambassadors on the current state of play of EU-US trade negotiations.
The €21 billion package was previously meant to be imposed in April but was delayed after Trump suspended his sweeping "reciprocal tariffs", which sent shockwaves through the world economy and financial system. The €72 billion list was presented to member states last week following weeks of consultations with EU capitals and businesses.
Trump has already imposed a 50% tariff on steel and aluminium, a 25% levy on cars, and a 10% blanket levy on EU goods since his return to the White House in January. The duties affect €370 billion worth of EU goods, or 70% of the bloc's total exports to the US.
Trump has also threatened to impose a 50% tariff on copper on 1 August and repeatedly pledged to impose levies on other strategic products, including pharmaceuticals and semiconductors.
Brussels, meanwhile, is 'practically ready' in the preparation of further retaliatory measures targeting US services, a senior Commission official told the European Parliament's international trade committee last week.
The EU ran a surplus in goods of €198 billion and a deficit in services of €148 billion with the US last year, according to EU data.
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