Overview

• The EU has officially implemented retaliatory tariffs of 10% to 25% on US goods, targeting products like soybeans, orange juice, and steel, with phased measures extending into December.
• China has raised tariffs on US imports from 34% to 84% and blacklisted additional US companies, intensifying the trade conflict.
• US tariffs on steel and aluminum, introduced in March, have triggered these countermeasures from both the EU and China.
• EU leaders emphasize a dual strategy of imposing tariffs while expressing openness to negotiations for a balanced resolution.
• China’s escalation reflects broader economic tensions, with the country also considering further measures, including restrictions on rare earth exports and a Hollywood film ban.