Catenaa, Tuesday, May 06, 2025- The European Union (EU) plans to impose additional tariffs on $113 billion worth of US goods imported to the bloc if the ongoing trade talks fail to yield a satisfactory result, Bloomberg said.
Quoting people familiar with the matter, Bloomberg said that the proposed retaliatory measures will be shared with member states as early as Wednesday, and consultations will last for a month before the list is finalized.
Separately, the European Commission, the bloc’s executive arm that handles trade matters, is expected to share a paper with the US this week to try to kick-start the negotiations, Bloomberg reported earlier.
Bloomberg said proposals from the EU are expected to include lowering trade and non-tariff barriers and boosting investments in the US.
Negotiations between the EU and the US, which began last month, have made slow progress, and the market expectation is that the bulk of the American tariffs will remain in place.
The EU in May agreed to delay for 90 days the implementation of those measures after the US lowered its so-called reciprocal rate on most EU exports to 10% from 20% while the negotiations were taking place.
The EU said on Tuesday that Trump’s ongoing trade investigations will boost the amount of the bloc’s goods facing tariffs to $622 billion.
The new EU counter-measure list will come on top of the $24 billion of US goods already targeted by EU levies in response to Trump’s 25% duty on steel and aluminium exports.
Trump has also imposed a 25% duty on cars as well as some car parts and has initiated investigations that could result in duties on the imports of lumber, pharmaceuticals, semiconductors, critical minerals and trucks.
