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Commission: €95 billion in countermeasures if no agreement with the US on tariffs – See the list of products

The consulted list concerns imports from the US covering a wide range of industrial and agricultural products - The EU will also refer the matter to the World Trade Organization

Newsroom May 8 04:33

 

The European Commission has formally launched a public consultation on a list of imports from the US that could be subject to countermeasures by the EU if the ongoing EU-US negotiations do not lead to a mutually beneficial outcome and the lifting of US tariffs.

The consulted list covers imports from the US worth 95 billion euros, covering a wide range of industrial and agricultural products. The Commission is also consulting on possible restrictions on certain EU steel and chemical exports to the US, worth €4.4 billion. This consultation is designed to look at both US universal tariffs and tariffs on cars and car parts.

According to the Commission, “since the US imposed its unjustified and harmful tariffs, the EU has prioritised finding a mutually beneficial and balanced solution through negotiations, including in the context of the 90-day partial tariff suspension announced by the US. These negotiations are ongoing at both political and technical levels. The EU continues to prepare possible countermeasures to defend its consumers and industry in parallel with the negotiations and in case they do not lead to a satisfactory outcome. While public consultation is a necessary step in this process, it does not automatically lead to the adoption of countermeasures.”

In parallel, the Commission announced that the EU will also launch a World Trade Organization (WTO) complaint procedure against the US on the universal, so-called “reciprocal” tariffs and tariffs on cars and car parts, formally requesting consultations. The EU is of the undisputed view that these tariffs are in flagrant violation of fundamental WTO rules. The EU’s aim is therefore to reaffirm that internationally agreed rules matter and cannot be unilaterally ignored by any WTO member, including the US.

See the list of products HERE

Finally, the Commission continues to closely monitor the possible diversion of global exports to the EU market that could be caused by US tariffs on third countries. In addition, the Commission will continue to negotiate with other trading partners to find new export outlets and diversify its sources of supply.

Commission President Ursula von der Leyen said: “Tariffs are already having a negative impact on global economies. The EU remains fully committed to finding negotiated results with the US. We believe that good agreements can be reached for the benefit of consumers and businesses on both sides of the Atlantic. At the same time, we continue to prepare for all eventualities and the consultation launched today will help guide us in this necessary work.”

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Next steps

The Commission will act under the EU Enforcement Regulation, considering the US measures as safeguard measures. As a first step in this process, anyone affected by possible readjustment measures currently being considered by the EU is invited to submit their views within four weeks, including views on the impact of the US duties. The consultation will therefore remain open until 10 June.

On the basis of the information gathered, the Commission will finalise its proposal for the adoption of countermeasures and consult Member States. Once this process is completed, the Commission aims to have ready for use the legal instrument imposing countermeasures in case the negotiations with the US do not lead to a satisfactory outcome.

Meanwhile, once the EU formally submits its request for WTO consultations soon, the two parties will have up to two months to find a mutually acceptable solution. If consultations fail, the EU will be able to request the establishment of a committee to assess the merits of the case.

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