According to China Central Television (CCTV), on July 23 local time, former U.S. President Donald Trump announced that the United States would impose simple tariffs ranging from 15% to 50% on most countries around the world. Trump added that the U.S. is engaged in “serious negotiations” with the European Union. If the EU agrees to open up its markets to American businesses, he stated, the U.S. would consider offering lower tariff rates in return.
Back on July 12, Trump had declared that starting August 1, a 30% tariff would be levied on goods imported from the EU into the United States. He cited high EU tariffs and non-tariff barriers as key reasons behind the U.S.’s massive trade deficit with Europe.
German Chancellor Friedrich Merz revealed on July 18 that EU-U.S. tariff negotiations have entered the final stage, although both sides are still debating whether differentiated treatment should be applied to specific industries.
On July 23, European Commission spokesperson Olof Gill stated that if the talks break down and the U.S. imposes high tariffs on EU products, the European Union plans to swiftly retaliate by imposing tariffs on nearly €100 billion worth of American goods.
