Gold prices edge higher on raised Fed rate cut hopes
Investing.com -- The European Commission has proposed countermeasures on U.S. imports worth up to 95 billion euros ($107.2 billion). This step is a response to the series of tariffs imposed by U.S. President Donald Trump and will be implemented if negotiations with Washington do not result in their removal.
The proposed measures are a reaction to U.S. import tariffs on cars and a broader set of ’reciprocal’ tariffs. They would target a variety of U.S. goods including wine, fish, aircraft, car and car parts, chemicals, electrical equipment, health products, and machinery.
The European Commission, responsible for coordinating trade policy for the 27-member EU, has initiated a month-long consultation for EU members and businesses to respond. Following this, a final decision on the counter-tariffs will be made. These are expected to impact a smaller volume of U.S. imports.
The news of potential targeted products by the EU coincides with the day President Trump is anticipated to announce a trade agreement between the United States and Britain.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.