Trump's recent decision to impose a 30% tariff on EU goods starting August 1 shocked Brussels and prompted discussions about economic damage and retaliation. European Commission President Ursula von der Leyen stated all necessary steps would be taken to protect EU interests. Despite the aggressive rhetoric, the EU seems to be proceeding cautiously. Aiming for a 0% for 0% tariff agreement, the EU emphasizes the need to consider both services and goods in the overall transatlantic trade balance.
Trump's announcement of a 30% tariff on EU goods starting on August 1 shocked Brussels, raising concerns about the economic damage and retaliation options that would be necessary to safeguard EU interests.
The EU's original strategy aimed for a 0% for 0% tariff agreement while emphasizing the need to consider overall trade balance, including services, not just manufactured goods.
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