The European Union will unveil the next phase of its proposed countermeasures to mitigate U.S. tariffs on Thursday, European Trade Commissioner Maros Sefcovic said Wednesday.
“Tomorrow we will announce next preparatory steps, both in [the] area of possible rebalancing measures and also in the areas important for further discussions,” Sefcovic said during a news conference in Singapore.
In April, the Trump administration imposed a 20% tariff on all goods coming in from the EU but shortly paused the taxes to allow 90 days for negotiations which will expire on July 8. While a 10% tariff remains in place for most items, a 25% duty on foreign cars, steels and aluminum remains intact. The EU has currently paused its preliminary set of retaliatory measures, a response to the metals tax, which are aimed at roughly $21 billion worth of U.S. products.
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