European Trade Commissioner Maros Sefcovic has announced that the European Union plans to unveil additional details regarding its proposed countermeasures against U.S. tariffs in an update scheduled for Thursday.
During a press briefing in Singapore, Sefcovic stated, “Tomorrow we will announce next preparatory steps, both in [the] area of possible rebalancing measures and also in the areas important for further discussions.”
He emphasized that the EU is “preparing for any scenario” if ongoing trade negotiations do not yield positive results.
“Negotiations clearly come first but not at any cost,” Sefcovic remarked, highlighting the EU’s “laser-focused approach” aimed at achieving a negotiated agreement with Washington.
Sefcovic further indicated that the EU is collaborating closely with member states, consulting industry representatives, and engaging with key stakeholders to ensure readiness for future developments.
Initially, former President Trump introduced a 20% “reciprocal” tariff on all products imported from the EU; however, on April 9, the measures were suspended for a 90-day negotiation period, reducing the tariff to 10% for that timeframe. Despite these changes, a 25% tariff on foreign automobiles, along with steel and aluminum imports, remains enforced.
At present, the EU has paused its initial retaliatory measures in response to the U.S. metal tariffs, which targeted approximately 21 billion euros ($24.1 billion) worth of American goods, imposing a tariff rate of 25%.
