EU threatens massive tariffs, vows to haul US before WTO
The European Union has proposed countermeasures on up to 95 billion euros ($107 billion) of US imports, including cars and planes, should negotiations with US President Donald Trump’s administration fail to deter a trade war.
The EU on Thursday launched a 218-page document listing all the products it could restrict, including US-made aircraft, cars, soybeans, human hair, nuts and fruit, fish and meat, plastics, chemicals, and electrical equipment.
The European Commission also vowed to file a complaint with the World Trade Organization over Trump’s imposition of tariffs against the bloc.
"It is the unequivocal view of the EU that these tariffs blatantly violate fundamental WTO rules," it said.
According to a senior EU official, planes and autos make up the largest value of goods on the list, worth 10.5 billion euros and more than 12 billion euros, respectively.
The move could put companies like Boeing on the verge of collapse.
The EU also threatened to take more measures and target US Big Tech if Trump’s administration does not back down. "All options remain on the table," the senior official said.
The EU faces 25% US import tariffs on its steel, aluminium, cars and so-called "reciprocal" tariffs of 10% for almost all other goods - a levy that could rise to 20% after Trump's 90-day pause expires on July 8.
Last month, the EU approved duties of 25% on US imports amounting to 21 billion euros to respond to US metal tariffs. However, Trump’s 90-day pause made Europeans delay those retaliatory tariffs until July 14 to give time for negotiations.
EU chief Ursula von der Leyen reiterated the bloc's determination to reach a negotiated solution and avoid tariffs on both sides.
"We believe there are good deals to be made for the benefit of consumers and businesses on both sides of the Atlantic," she said.
But EU trade chief Maros Sefcovic insisted that "we will not accept an outcome at any price".
EU officials say the bloc has not included pharmaceutical products on the list as it wants to protect its own industries from potential retaliation, the official said.
The Commission said US tariffs now apply to 380 billion euros of EU goods, which is about 70 percent of all EU exports to the US. This number could rise to 97 percent if the US takes further action on pharmaceuticals, semiconductors, critical minerals, and trucks.
Donald Trump’s announcement last month to issue extreme tariffs on dozens of countries, including China and traditional allies such as the EU, put global markets into uncertainty.
Senior EU officials have since visited Washington for talks, with little so far to show for their efforts.
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