EU Set to Impose Tariffs on US Goods, Including Cars and Aircraft, on August 7
The EU is set to impose tariffs on a broad range of US goods, including cars and aircraft, in response to US tariffs on European steel and aluminium. The EU's countermeasures, approved by member states, will be enacted in stages starting 7 August if no agreement is reached.
The EU's response mirrors US tariffs in scale and sectoral coverage, with rates up to 30%. It targets a wide range of US goods, including cars, aircraft, soybeans, and bourbon whiskey. The EU continues to pursue a negotiated solution, aiming to replicate the US-Japan agreement model. A potential deal would involve a 15% US tariff on key European sectors, excluding certain exemptions.
Germany and France have joined forces in supporting the activation of the EU's anti-coercion instrument to deter US economic pressure. Hungary was the sole member state to vote against the proposal. The EU has so far refrained from enacting its own measures, preserving space for negotiations. The person appointed by the EU for negotiations with the US to conclude a tariff agreement remains unnamed.
The EU's tariffs, approved by member states, will come into effect on 7 August if no agreement is reached. The EU continues to seek a negotiated solution, with a potential deal involving a 15% US tariff on key European sectors. Germany and France support the activation of the anti-coercion instrument to counter US economic pressure.
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