The European Union is preparing a 100 billion euro "no deal" plan in response to 30% US tariffs

On July 23rd, according to foreign media reports, if the talks break down and US President Trump follows through on his threat to impose 30% tariffs on most EU exports after August 1st, the European Union plans to quickly impose 30% tariffs on US products worth about 100 billion euros (about 117 billion dollars). A European Commission spokesperson said on Wednesday that as part of the first wave of countermeasures, the EU will combine the approved tariff list for 21 billion euros of US goods and the previously proposed tariff list for another 72 billion euros of US products into a package. According to people familiar with the matter, US exports, including Boeing planes, US-made cars and industrial products such as bourbon, will face tariffs that match Trump's threat of 30%. The tariffs will be ready to take effect next month, these people said, but only if talks break down and the US implements its levies after an August deadline. In the event of a no-deal scenario, Berlin would even be willing to support the activation of the EU's "anti-coercion instrument" (ACI), which would be used only if no deal could be reached, according to an administration official who spoke on condition of anonymity.