The EU is gearing up for retaliation in case trade negotiations with Washington fail by 1 August. Should there be no agreement, the US will start charging 30% tariffs on almost all goods imported from the bloc.
After having been caught off guard by a letter threatening the 30% duty on EU goods last weekend, the European Commission has quickly tabled a plan to put countertariffs on US exports worth €72 billion, inevitably hitting the European Union’s own economy.
