The European Commission proposed countermeasures on up to 95 billion euros of U.S. imports if negotiations with Washington fail to remove the series of tariffs applied by President Trump.
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00:00The European Commission on Thursday proposed countermeasures on up to 95 billion euros of U.S. imports
00:07if negotiations with Washington fail to remove the series of tariffs applied by U.S. President Donald Trump.
00:14The new measures representing the EU's response to U.S. import tariffs on cars and its broader reciprocal tariffs
00:20would target U.S. wine, fish, aircraft, car and car parts, chemicals, electrical equipment, health products and machinery.
00:30The European Commission, which coordinates trade policy for the 27 EU members,
00:36said it was launching a public consultation to June 10th for EU members and businesses to react.
00:42It will then take a final decision on its counter tariffs, likely to hit a smaller volume of U.S. imports.
00:49The announcement of a new list of products that EU may target comes on the day Trump is expected to announce a trade deal between the United States and Britain.
00:58The EU faces 25% U.S. import tariffs on its steel, aluminium and cars and so-called reciprocal tariffs on 10% for almost all other goods,
01:09levy that could rise to 20% after Trump's 90-day pause expires on July 8.
01:14The EU Commission has repeatedly said it would prefer a negotiated solution to T-4T tariffs but wants to have a retaliatory response ready for July in case no solution is found.
01:25The bloc in April approved duties mostly of 25% on U.S. imports, amounting to 21 billion euros, including maize, wheat, motorcycle and clothing.
01:37These response to U.S. mental tariffs were suspended before entering force after Trump announced his 90-day pause.