EU will not hesitate to countertariff US to ‘restore balance’ in trade relationship

News Snapshot:

EUROPEAN TRADE COMMISSIONER Maroš Šefčovič has said that the EU will not hesitate to implement harsh countermeasures on the US to “restore the balance” in the economic relationship between the two countries as Europe seeks to avoid a 30% tariff. EU trade ministers are meeting in Brussels this morning to discuss the ongoing negotiations between the EU and the US to mitigate potential tariffs which President Donald Trump seeks to increase on member states. The ministers will discuss the potential response to the US’ latest announcement that a blanket tariff would be increased from an expected baseline of 10% to...