US-EU Trade Tensions Escalate as EU Prepares $84 Billion Tariff List Targeting Boeing, US Cars

The EU is reportedly preparing an $84 billion tariff list targeting Boeing and US cars in response to Trump's tariff threat. The list includes defense, space, and security products, as well as commercial aircraft, spare parts, and technical support services. The tariffs will apply to products from the US, with the majority coming from the defense, space, and security market. The list is a response to the US imposing tariffs on EU goods worth $7.5 billion.

The European Union (EU) has finalized a $84 billion tariff list targeting Boeing aircraft, US cars, and other goods in response to US President Donald Trump's tariff threat. The list, which includes defense, space, and security products, as well as commercial aircraft, spare parts, and technical support services, is a direct response to the US imposing tariffs on EU goods worth $7.5 billion [1].

The EU's new list of targeted US products, prepared by the European Commission, is a 206-page document that includes over $65 billion in industrial goods, including nearly $11 billion in aircraft, over $9.4 billion in machinery, and $8 billion in cars [2]. The list also includes more than $6 billion in US agrifood products, mostly fruits and vegetables and alcoholic drinks [3].

The EU's tariffs are a response to the US imposing a 20% reciprocal tariff on most EU goods, with additional 25% duties on cars and car parts. Trump has since threatened to raise EU tariffs to 30% by August 1, a move described by EU trade chief Maros Sefcovic as "effectively prohibitive" [1].

The EU's countermeasures come amid rising global concern over Trump's trade policies, which have disrupted trade flows and injected uncertainty into financial markets. The EU is expected to continue negotiations with the US to reach a mutually beneficial settlement [1].

References:
[1] https://m.economictimes.com/news/international/global-trends/trumps-tariff-letters-trumps-tariff-war-check-full-list-of-22-countries-got-tariff-letters-from-washington/articleshow/122360506.cms
[2] https://www.investing.com/news/economy/eu-finalizes-84-billion-tariff-list-targeting-us-goods--bloomberg-4134567
[3] https://www.irishexaminer.com/business/companies/arid-41669855.html