EU, Warning of retaliatory tariffs amounting to 72 billion euros against the US…Direct response to Trump tariffs

The European Union (EU) is poised to confront the United States' unilateral tariff measures head-on. Maros Sefcovic, EU Commissioner for Trade and Economic Security, stated on the 15th (local time) that "If trade negotiations with the United States break down, the EU is prepared to impose retaliatory tariffs on 72 billion Euros (about 84 billion dollars) worth of U.S. imports."

This statement is in response to U.S. President Donald Trump's announcement to impose a 30% tariff on EU imports starting August 1. Commissioner Sefcovic emphasized that "The EU does not desire a trade war, but a balanced response will certainly follow unilateral measures."

While the items subject to retaliatory tariffs have not yet been specifically disclosed, there is likely to be a wide range of product categories including automobiles and agricultural products. If the conflict between the two sides escalates, negative ripple effects on global supply chains and financial markets are expected.

If President Trump's tariff policy is fully implemented, there are growing concerns that a trade war between the US and EU could become full scale. If the EU's retaliatory measures materialize, it is likely to become a new tension factor in the global economy.