The US president has made numerous announcements about tariff measures since March.
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.
The European Union (EU) is preparing to impose tariffs on around 100 billion euros worth of American products in response to tariffs imposed by United States President Donald Trump if negotiations fail, European diplomats told AFP today.
The US president has made numerous announcements about tariff measures since March.
Trump decided to impose additional tariffs of 20 percent on most imports from Europe, the implementation of which, however, was suspended until July in an attempt to find a solution to the trade dispute.
Currently, the basic 10 percent tariff imposed by Trump still applies to goods the EU exports to the U.S. Steel, aluminum, and cars from Europe even face an additional 25 percent tariff.
The EU hopes to reach an agreement with Washington to avoid a trade war, but wants to be ready to retaliate if negotiations fail.
The European Commission, which manages EU trade policy, notified member states last week that it would target increased tariffs on American products, raising nearly 100 billion euros in revenue, in response to the aforementioned 20 percent US tariffs, if no deal is reached, diplomatic sources said.