{"id":1534556,"date":"2025-05-07T08:15:00","date_gmt":"2025-05-07T12:15:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1534556"},"modified":"2025-05-07T08:15:00","modified_gmt":"2025-05-07T12:15:00","slug":"eu-set-to-tariff-113-billion-in-u-s-goods-if-trade-talks-break-down","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/eu-set-to-tariff-113-billion-in-u-s-goods-if-trade-talks-break-down\/1534556\/","title":{"rendered":"EU Set To Tariff $113 Billion In U.S. Goods If Trade Talks Break Down"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">EU Set To Tariff $113 Billion In U.S. Goods If Trade Talks Break Down<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>The European Union is preparing to impose up to \u20ac100 billion ($113 billion) in tariffs on US goods if trade talks fail, according to a new report by\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-06\/eu-targets-100-billion-of-us-goods-with-tariffs-if-talks-fail\">Bloomberg<\/a>\u00a0this morning.<\/p>\n<p>The draft list of retaliatory measures will be circulated to member states as early as Wednesday, with a one-month consultation period before finalization.<\/p>\n<p><strong>\u201cThese import taxes are unjustified and cause economic harm on both sides of the Atlantic,\u201d<\/strong> said EU trade chief Maros Sefcovic. \u201c<strong>This situation is not acceptable and we cannot afford to stay idle.\u201d<\/strong><\/p>\n<p>The EU has already delayed \u20ac21 billion in planned tariffs after the US halved its reciprocal duties during ongoing negotiations. Talks, which began in earnest last month, have made little headway.<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/Screenshot%202025-05-06%20at%209.12.22%E2%80%AFAM.jpg?itok=pXzR3mOC\"><\/a><\/p>\n<p>The <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-06\/eu-targets-100-billion-of-us-goods-with-tariffs-if-talks-fail\">Bloomberg article notes<\/a> that the bloc has proposed eliminating tariffs on industrial goods and increasing purchases of US products like LNG and soybeans, but the US has rejected those offers, focusing instead on EU digital tax rules and tech regulations. A commission spokesperson declined to comment.<\/p>\n<p>A new EU proposal paper is expected this week to revive talks.<\/p>\n<p>The bloc is targeting high-impact areas without mimicking US tariffs directly, aiming to avoid damage to its own supply chains. Earlier retaliatory lists targeted politically sensitive goods like Louisiana soybeans.<\/p>\n<p>Currently, the US imposes tariffs of 10\u201325% on \u20ac380 billion worth of EU exports\u2014around 70% of the bloc\u2019s total exports to the US. The EU&#8217;s 2024 goods trade surplus with the US was \u20ac198.2 billion, though the overall surplus narrows to \u20ac48 billion when services are included.<\/p>\n<p><strong>\u201cThis is the time to act, in unequivocal terms, for the EU\u2019s interest,\u201d<\/strong> Sefcovic told lawmakers.<\/p>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" class=\"username\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Wed, 05\/07\/2025 &#8211; 04:15<\/span><\/p>\n<p>\u200b<a href=\"https:\/\/www.zerohedge.com\/markets\/eu-set-tariff-113-billion-us-goods-if-trade-talks-break-down\" target=\"_blank\" class=\"\">https:\/\/www.zerohedge.com\/markets\/eu-set-tariff-113-billion-us-goods-if-trade-talks-break-down<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EU Set To Tariff $113 Billion In U.S. Goods If Trade Talks Break Down The European Union is preparing to impose up to \u20ac100 billion&#8230;<\/p>\n","protected":false},"author":0,"featured_media":1534557,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1534556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1534556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1534556"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1534556\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1534557"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1534556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1534556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1534556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}