Overview

• The European Commission has formally proposed a second round of countermeasures targeting €72 billion of U.S. imports.
• Tariffs would apply to aircraft and parts, machinery, cars and car parts, chemicals, medical devices, electrical and precision equipment plus agricultural products such as fruits, wine, beer and spirits.
• The package was pared back from an initial €95 billion list following consultations with member states and industry stakeholders.
• EU governments must unanimously approve the measures before they can take effect, with no formal vote yet scheduled.
• Brussels is racing to secure a deal and avoid the 30 percent levies President Trump has threatened to impose from August 1