Planes, cars and wine on EU’s new tariff list targeting US imports
WEB DESK: The European Commission has proposed a fresh list of US products that could face new tariffs if ongoing trade talks with Washington fail to produce a deal.
The list includes major American exports such as aircraft, industrial machinery, automobiles, chemicals and medical devices. Also targeted are items like electrical and precision instruments, food and agricultural goods , including fruits, vegetables, wine, beer and spirits, amounting to a total value of €72 billion ($84.1 billion).
This marks the second tariff package put forward by the Commission, which manages trade policy for the 27-member European Union. The move is a direct response to existing US tariffs on European cars and car parts, which currently stand at 10 per cent.
However, tensions have escalated after US President Donald Trump threatened to impose a 30 per cent baseline tariff on EU imports starting August 1. European officials say such a move would severely disrupt trade between the two economic blocs and consider it unacceptable.
An earlier package of tariffs on €21 billion worth of US goods was approved in April but was suspended to leave space for dialogue. That suspension has now been extended until August 6.
Speaking on Monday, EU trade chief Maros Sefcovic confirmed that member states were still hopeful for a breakthrough but agreed that countermeasures would be necessary if no agreement is reached.
The second tariff list was initially released for public consultation in May, covering €95 billion worth of goods. The final version has since been reduced, but key products remain on the list.
There is no fixed date yet for formal approval of the latest tariff package by EU governments.