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The European Union plans to impose additional tariffs on about $113 billion in US goods should negotiations with President Trump prove unsuccessful. The US placed a 25% tariff on all steel, aluminum, and cars from Europe, plus a 10% tariff for almost all European goods, which could rise to 20% once President Trump’s 90-day pause ends on July 8. The European Union vows to reject unfair trade deals with the U.S. On Tuesday, the European Union clarified that they will not bow down to pressures and accept an unfair tariff agreement with the United States.  European Trade Commissioner Maros Sefcovic argued that the commission is not “weak” and thus will not agree to any unfair deal. He added that they plan to use the pause period to come up with more rebalancing measures. He also insisted that the US needs to show that it’s prepared to come to an objective deal. He commented, “All options remain on the table here […]. While the EU’s clear preference was to negotiate a solution with the United States, he said Washington now needed to show its readiness to make progress towards a fair and balanced agreement.” Nonetheless, he agrees that US import levies are unwarranted and will only cause economic harm to both sides of the Atlantic.  The European Union clarified that current US tariffs affect 70% of its exports to the United States and believes it could easily increase to 97%, roughly €549 billion, after further US investigations into pharmaceuticals, semiconductors, and other products. EU to share retaliatory measures with member states by Wednesday The European Union is considering imposing additional tariffs of about €100 billion, or about $113 billion, if negotiations with the US fail. The bloc had made it clear that it does not want tit-for-tat tariffs, but if talks…

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Filed under: News - @ May 6, 2025 6:27 pm