MNI BRIEF: EC Moots Countermeasures Against U.S. Tariffs

The European Commission will launch WTO legal action against the U.S.’s 20% reciprocal tariffs on EU exports and has launched public consultations on a new round of possible countermeasures, it said on Thursday.

Around EUR95 billion in U.S. imports could be targeted, including a broad range of industrial and farm products. It will also consult on possible restrictions on the export of steel scrap and chemical products to the U.S. currently worth around EUR4.4 billion. 

The Commission said it would continue to prioritise negotiations to reach a "mutually beneficial and balanced" agreement to end the tariff dispute within the framework of the 90-day suspension period.  

The EC will also launch WTO litigation against the reciprocal tariffs as well as tariffs on cars and car parts. (See MNI: EU Countries See US Shift In Tone But Trade Deal Unlikely)