EU member states on Thursday, July 24th, approved a €93 billion package of counter-tariffs on U.S. goods that would kick in from August 7th if talks with the United States fail, European diplomats said.
The list includes previously agreed levies on €21 billion of U.S. products, including soybeans. Added to that is a second list of €72 billion put forward by the European Commission this month, targeting dozens more products, including U.S. planes, cars, and whisky.
Backed by 26 EU countries except Hungary, the counter-tariffs on the totality of the goods targeted would be up to 30%.
The EU’s hardened negotiating stance comes as Brussels and Washington appear to be inching towards a deal with a baseline 15% levy on EU goods, ahead of an August 1st deadline.
U.S. President Donald Trump this month threatened a 30% levy on EU goods unless the two sides reach a trade deal by August 1.
