MNI BRIEF: EU Ready To Launch Trade Retaliation If Needed

The European Commission said today that it is ready to launch retaliation measures against the U.S. if needed later on Friday or over the weekend in the coming days, but that it remains "fully locked and loaded" to agree a deal in principle, Trade Spokesperson Olof Gill said.

The EU's first list of countermeasures against the U.S. agreed in April were officially suspended until midnight Sunday-Monday. The 25% tariffs would impact EUR21 billion of U.S. products.(See MNI: EU-US Deal Hinges On Rule Exemptions Vs Market Access)