Overview

• President Trump’s 30% tariff threat takes effect on August 1 and EU Trade Commissioner Maroš Šefčovič warns it would “practically prohibit” transatlantic trade.
• EU member states have deferred a €21 billion retaliation package until August 6 and are preparing a second €72 billion list of U.S. goods for possible levies.
• Brussels is considering invoking its Anti-Coercion Instrument to target U.S. services, public procurement access and financial markets in response to pending duties.
• Negotiations broke down over Washington’s refusal to agree to a standstill clause that would bar further national security–based tariffs.
• Industries at greatest risk include German automakers, Irish pharmaceutical exporters and French and Italian wine producers, with bourbons and aircraft parts topping the EU’s potential retaliation list.