Caught off guard while preparing to sign an agreement in principle with the U.S. on tariffs, the EU is gearing up for retaliation in case negotiations fail following the new U.S. threats over the weekend.
Breakdown
- EU trade ministers met in Brussels to discuss a joint response to new US tariffs. 6s
- The US announced a 30 percent tariff on EU goods, prompting EU preparations for retaliation. 10s
- Some EU countries, especially France and Spain, are pushing for strong countermeasures. 23s
- The EU is considering a second package of countermeasures worth 72 billion euros and the use of the anti-coercion instrument. 1m 7s
- The EU's priority remains negotiating a deal to avoid a trade war with the US. 1m 53s
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Global Tariffs
Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.