Top EU trade negotiator Maroš Šefčovič is set to speak with US Commerce Secretary Howard Lutnick on Wednesday, as Brussels seeks to strike a deal with Washington ahead of the White House’s looming Aug. 1 deadline.
Brussels prepared a retaliatory package in case no agreement is reached by next Friday and if tariff threats materialize: The bloc plans to impose 30% tariffs on approximately $117 billion worth of US goods, including bourbon, airplanes, and soybeans, Bloomberg reported.
The move would mirror US President Donald Trump’s 30% threat against the EU, hitting about one-third of American exports, based on the almost $400 billion worth of US goods shipped to the bloc last year. If no deal is struck, Brussel’s countermeasures are set to kick in next month.