The European Union is preparing to impose its own tariffs on American goods in response to President Donald Trump’s trade policies, including his recent decision to impose 25% tariffs on certain imported steel and aluminum products.
In a move that could escalate tensions between the two economies, EU officials are expected to unveil a list of US products subject to reciprocal tariffs by the end of the year. The list is likely to include popular American brands such as Boeing aircraft, Harley-Davidson motorcycles, and whiskey.
The move is seen as a significant escalation in the ongoing trade war between the EU and the US. It also reflects the growing frustration among European leaders over what they see as unfair US trading practices.
EU Trade Commissioner Phil Hogan has stated that the EU will not be intimidated by Trump’s tariffs and will take all necessary steps to protect its interests. The move is likely to have significant implications for businesses operating in both regions, particularly those with complex global supply chains.
The trade war between the US and the EU has been ongoing since 2018, with each side imposing tariffs on various products. However, this latest development marks a significant escalation of tensions between the two economies.
Source: https://www.ft.com/content/7303e57e-67ca-477a-8d00-8d5213f7120c