High-Stakes Tariff Talks: EU vs. US

EU trade chief Maros Sefcovic is set to discuss tariffs in Washington with U.S. officials. Trump threatens a 30% tariff on EU imports starting August 1. In response, the EU has prepared a counter-tariff list worth 72 billion euros. The discussions aim to avoid escalating trade tensions.

In a bid to avert escalating trade tensions, EU trade chief Maros Sefcovic will travel to Washington D.C. on Wednesday for crucial tariff talks. According to an EU spokesperson, Sefcovic is scheduled to meet U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer.

U.S. President Donald Trump has proposed a 30% tariff on EU imports effective August 1, a move met with strong objections from European leaders. Should trade discussions falter, the European Commission has outlined a plan to retaliate with tariffs on American goods worth 72 billion euros. This list includes key U.S. exports like Boeing aircraft, bourbon whiskey, and automobiles.

Further complicating matters, Trump's trade policies have often been marked by unpredictability, having previously disrupted established international trade agreements. With the deadline fast approaching, negotiators are seeking to ease tensions and possibly reduce the proposed tariffs to prevent broader economic impacts.

(With inputs from agencies.)