EU to impose tariffs worth €100 billion on US imports

The European Union is preparing to impose tariffs on €100 billion worth of US products in retaliation for the tariffs imposed by US President Donald Trump, if negotiations fail, according to European diplomats.

The US president announced an additional 20% tariff on most imports from Europe, but suspended its implementation until July in an attempt to reach a negotiated solution to the trade dispute.

Currently, the initial 10% additional tariff announced by Trump remains in place on goods exported from the EU to the United States, while Washington imposes an additional 25% tariff on European steel, aluminum, and car imports, according to Agence France-Presse.

The EU hopes to reach an agreement with the United States to avoid a trade war, but wants to be prepared to respond if negotiations fail.