European Union Prepares to Impose Tariffs on 72 billion Euros of US Goods

On July 14th, European Union Commissioner in charge of trade and economic security, Sefcovic, said on the 14th that if the US-EU trade talks fail, the European Union is ready to impose additional countermeasures on US imports worth 72 billion euros (about 84 billion dollars). As the European Union and the United States are trying to reach a trade agreement, US President Trump announced on the 12th that he will impose a 30% tariff on European Union imports from August 1st. Ministers of European Union member states met in Brussels on the 14th to discuss how to respond to Trump's latest statement and prepare countermeasures.