EU prepares 93 billion anti-coercion measures with 30% tariffs
European Commission trade spokesman Olof Gill gave an update on the negotiations with the US on tariffs. 93 billion countermeasures from 7 August
2' min read
2' min read
The European Commission has decided to merge the first and second lists of potential countermeasures to the unilateral tariffs imposed by the US into a "single list", which will not enter into force "before 7 August" and will be submitted to the member states for approval. This was said by European Trade Commission spokesman Olof Gill.
'The main objective of the EU,' says Gill, 'is to achieve a negotiated result with the US. Intensive contacts at technical and political level are ongoing. Commissioner Maroc Šefčovič will speak with US Trade Secretary Howard Lutnick this afternoon, shortly before the Commission briefs the EU Member States at Coreper'. He adds that, 'although our priority is the negotiations, we continue in parallel to prepare for all outcomes, including possible additional countermeasures. To make our countermeasures clearer, simpler and more effective, we will merge lists 1 and 2 into one list (which will not enter into force before 7 August) and submit it to the member states for approval'.
Sefcovic hears Lutnick today: 'Intensive contacts on tariffs'
Meanwhile, the negotiations are progressing. "The main objective of the EU is to achieve a negotiated result with the US. Intensive contacts at technical and political level are ongoing. Commissioner Sefcovic will speak with Secretary Lutnick this afternoon, shortly before the Commission briefs the EU Member States in Coreper', the meeting of the ambassadors of the Twenty-seven to the EU. This was announced by EU Trade Commission spokesman Olof Gill.
Sources: 'Pressure from US on EU for Big Tech and drugs'
Washington is putting pressure on Brussels on the Big Tech front and on the pharmaceuticals chapter, which is considered sensitive. This is according to several European sources close to the EU-US negotiations on tariffs. American demands, it is explained, include the exclusion of star-studded tech companies from the application of certain provisions of European regulations, as well as proposals for regulatory simplification. The talks revolve around a 15% tariff threshold, but what worries the Commission is the risk that a possible agreement will not find the necessary consensus between the member states and the business community.
