The European Commission has decided to combine two separate retaliation lists developed in response to US tariffs on steel and aluminum into a single comprehensive package.
Commission Trade Spokesperson Olof Gill announced in a statement on Wednesday that the EU's primary focus is to reach a negotiated outcome with the US, adding that they will continue to prepare for all possible outcomes in parallel. “We will merge lists 1 and 2 into a single list to make the countermeasures clearer, simpler, and stronger,” he stated.
The first list is currently suspended until August 6, while the second list is awaiting a vote by the EU’s 27 member states. This new combined list targets approximately EUR 93 billion worth of US imports to the EU.
The EU's move comes after President Trump announced that he would impose a 30% tariff on EU products if no trade agreement was reached between the two sides by August 1. This announcement had disrupted the negotiation process.
Spokesperson Gill stated that the Commission could implement these measures on August 7, but could also consider suspending them for a longer period if it wished. “Our priority is negotiations, and we are continuing in parallel to prepare for all outcomes,” he noted.
It was also reported that Trade Commissioner Maroš Šefčovič would meet with US Trade Representative Howard Lutnick on the same day.
These developments came shortly after Trump announced an agreement to impose a 15% tariff on products, including automobiles, from Japan. The EU side, meanwhile, is demanding reciprocal guarantees regarding industrial products exported to the US.
Comments
No comment yet.