The European Union has warned of potential trade countermeasures against the United States following the Trump administration’s unexpected decision to impose a 50% tariff on steel imports, according to Rks News.
European Commission spokesperson Olof Gill stated that if negotiations with the US do not result in a balanced agreement, the EU is prepared to respond.
“We are finalizing an expanded list of countermeasures that will take effect on July 14, or earlier if talks fail,” Gill emphasized, as reported by the Associated Press.
This development comes at a delicate time, as European Commission President Ursula von der Leyen and President Trump had previously agreed to accelerate trade talks. However, the new tariff imposed by Trump during a 90-day negotiation pause has significantly increased the risk of a renewed trade war.
Negotiations are expected to continue on Wednesday in Paris, where EU Chief Negotiator Maros Sefcovic will meet with US Trade Representative Jamieson Greer.
The EU had earlier proposed a “zero-for-zero” deal, aiming to eliminate tariffs on industrial goods including vehicles, but this offer was rejected by the US.
Experts warn that the new steel tariff could lead to price hikes across several industries, including automotive, home appliances, and even food production.
