French Industry Minister Calls for Response to US Tariffs, EU Must Be Prepared for Retaliation
EU member states held a meeting this week to develop measures in case of a no-deal scenario between the EU and the Trump administration in the US. The Trump administration has increased pressure on tariff negotiations ahead of the August 1 deadline.
On July 23 today, French Minister of Industry and Energy, Marc Ferreri, called for the EU to be prepared for US tariffs at the EU headquarters in Brussels.
Minister Ferreri said: "We emphasize that if an agreement cannot be reached before August 1, a series of countermeasures must be taken."
The French Minister of Industry and Energy said: "This will involve EU Commission taxing US products worth over 90 billion euros. It also means using tools that have not yet been used, especially so-called anti-coercion tools, which are non-tariff measures, but can take the form of export controls or restrictions on online advertising by digital platforms. These can be a range of tools needed today, which will put us in a more solid and credible position in negotiations."
The Trump administration sent a letter to the EU earlier in July, stating that starting August 1, it would impose 30% tariffs on most EU exports to the US, and had already imposed 25% tariffs on EU-produced cars and auto parts, as well as doubling the tariffs on steel and aluminum.
Additionally, Trump threatened to impose new tariffs on EU pharmaceuticals and semiconductors as early as August, and announced a 50% tariff on copper.
The EU estimates that US tariffs account for about 70% of the EU's exports to the US.
Source: rfi
Original: https://www.toutiao.com/article/1838483398676491/
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