EU considers €95bn (CAD 148bn) tariffs on US goods amid trade tensions
The European Commission has initiated consultations on a list of goods valued at €95 (CAD 148) billion imported from the USA, which could be subject to retaliatory tariffs by the EU if an agreement with Washington is not reached. The list includes aircraft, cars, machinery, whiskey, fish, and nuts.
The new list does not include goods on which the European Union announced tariffs in April. The implementation of these tariffs was temporarily suspended following a 90-day postponement of the so-called mutual tariffs announced by US President Donald Trump.
EU retaliatory tariffs. The list is available
The European Commission has proposed a new measure to impose tariffs on goods exported from the EU to the United States as well. The tariffs would include steel and chemicals sold to the USA, valued at approximately €4.4 (CAD 6.9) billion.
Consultations regarding the new list will continue until June 10th. Some items might be removed after these consultations. “We invite Boeing to participate,” an anonymous EU official told journalists.
According to the official, tariffs on the aerospace industry, according to the EC's proposal, could involve imports valued at approximately €10.5 (CAD 16.4) billion, with the reference point being the import value in 2024. The value of goods from the automotive sector is projected to exceed €12 (CAD 18.8) billion.
Meanwhile, retaliatory tariffs on the agricultural sector will cover imports valued at €6.5 (CAD 10.1) billion, of which €1.3 (CAD 2) billion is accounted for by American alcohols like whiskey and wines. The EC also proposed tariffs on fish valued at €500 (CAD 782) million. After consultations, the EC will draft a final list of proposed goods to be tariffed. However, to take effect, they must gain the approval of EU member states.
