BRUSSELS: The European Fee plans to submit counter-tariffs on 93 billion euros (US$109 billion) of United States items for approval to EU members, whereas its commerce chief will maintain talks with US Commerce Secretary Howard Lutnick.
The Fee stated on Wednesday (Jul 23) its major focus was to attain a negotiated consequence with the US to avert 30 per cent US tariffs that US President Donald Trump has stated he’ll impose on the 27-nation bloc on Aug 1.
European Commerce Commissioner Maros Sefcovic will communicate with Lutnick on Wednesday afternoon, the Fee stated, earlier than Fee officers transient EU ambassadors on the state of play.
The Fee stated it could in parallel press on with potential countermeasures. It stated it could merge its two units of potential tariffs of 21 billion euros and 72 billion euros right into a single record.
It added it could submit this to EU members for approval. No countermeasures would enter power till Aug 7. Up to now, the EU has not imposed any countermeasures, agreeing to, however then instantly suspending, the primary set in April.
The Fee could also be buoyed by the preliminary deal struck between the US and Japan.
