The European Union may impose tariffs on US goods worth EUR 100 billion

A proposal for such retaliatory measures is to be presented to member states as early as Wednesday, and consultations are expected to last a month before the list of American assets is finalized, agency sources said.

Separately, the European Commission is set to present the U.S. with a proposal this week to speed up trade negotiations. According to Bloomberg sources, the European Union is offering the U.S. lower trade and non-tariff barriers, as well as increased investment.

Bloomberg recalls that negotiations between the European Union and the United States, which began in April, have not progressed far and that most of the tariffs introduced by the Trump administration are expected to remain in place. The European Union announced on Tuesday that the investigations ordered by the US president increase the value of EU goods that could be subject to tariffs to EUR 549 billion.

Bloomberg emphasizes that the new list of US goods potentially subject to tariffs prepared by the European Union would be an additional action after the announcement of retaliatory tariffs on US goods worth EUR 21 billion for the introduction of a 25 percent tariff on steel and aluminum in the US. The European Union suspended their application for 90 days after the US lowered for the same period from 20 percent to 10 percent the so-called reciprocal tariffs on imports from the European Union, announced by President Donald Trump in early April.