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yesterday

EU Prepares $113 Billion Tariff List as U.S. Trade Talks Stall

The European Commission is consulting member states on new countermeasures while sharing a paper to revive negotiations with the U.S.

A European Union flag flutters outside the European Commission headquarters in Brussels, Belgium April 9, 2025. REUTERS/Yves Herman
European Union flags flutter outside the European Commission headquarters in Brussels, Belgium April 9, 2025. REUTERS/Yves Herman
Image
A European Union flag flutters outside the European Commission headquarters in Brussels, Belgium April 9, 2025. REUTERS/Yves Herman

Overview

  • The European Union is drafting a $113 billion tariff list targeting U.S. goods, adding to $23.9 billion in existing levies on steel and aluminum.
  • EU member states will review the proposed measures over the next month, with the list potentially finalized after consultations.
  • EU Trade Commissioner Maroš Šefčovič warned that U.S. trade investigations could subject 97% of EU exports to tariffs, up from 70% currently affected.
  • Airbus CEO Guillaume Faury has called for reciprocal tariffs on U.S. aircraft if negotiations fail, citing the need to protect the aerospace industry.
  • The European Commission plans to share a negotiating paper with the U.S. this week, aiming to reduce trade barriers and avoid further escalation.