EU Targets $84B in US Goods Amid Tariff Threat

The European Union has drawn up a retaliatory tariff list targeting $84 billion worth of US goods, including wine, bourbon, beer, aircraft, and automobiles, in response to President Donald Trump's announcement of a 30% tariff on EU imports set for August 1 if no new trade deal is reached. The list, refined after consultations with member states and industry stakeholders, encompasses a wide array of products such as spirits, machinery, medical devices, and food items. Irish officials, including Tánaiste Simon Harris, have warned that these tariffs could accelerate job losses and hurt economic growth, especially in vulnerable sectors like food, dairy, and pharmaceuticals. Business groups note that even the existing 10% tariffs are damaging low-margin businesses, with higher rates posing greater risks. EU leaders stress that 30% tariffs would make transatlantic trade nearly impossible and urge continued negotiations to prevent a trade war. The ongoing uncertainty is causing significant anxiety among European businesses seeking clarity for future planning.