The European Union (EU) is preparing a proposal to impose export restrictions on the United States if ongoing trade talks fail to deliver satisfactory results, Bloomberg reports, citing sources familiar with the matter. These measures - still under consideration - are intended as a retaliatory response to last month's U.S. decision to apply new tariffs on roughly EUR380 billion ($432 billion) worth of EU goods.
The people, who spoke on the condition of anonymity, stressed that the potential restrictions would serve as a deterrent and only be implemented if diplomatic efforts break down. According to them, options on the table include limiting exports of select goods, introducing further tariff lists, and tightening rules on public procurement contracts awarded to U.S. companies.
One of the people noted that any formal decision on additional tariffs would require political approval from national capitals across the bloc.
A spokesperson for the European Commission (EC) declined to comment on the matter, Bloomberg said.
Meanwhile, U.S. President Donald Trump reiterated his expectation of reaching a trade agreement with the EU during his meeting with Italian Prime Minister Giorgia Meloni at the White House yesterday. Although he gave no timeline, Trump insisted it would be a “fair deal” and stressed that the U.S. is “in no rush” to finalise any deal.
In her turn, Meloni, who is viewed as a potential bridge between Brussels and Washington, expressed cautious optimism about the negotiations. However, she noted that finalising such a deal would require engagement from all EU leaders, saying, “I cannot do this deal in the name of the European Union.”
Asked if the EU would proceed with those additional tariffs, Italy's PM said she is confident in striking a deal to prevent the tit-for-tat exchange.