financetom
Business
financetom
/
Business
/
EU to set out next countermeasures against US tariffs on Thursday
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
EU to set out next countermeasures against US tariffs on Thursday
May 26, 2025 2:49 AM

SINGAPORE (Reuters) - The European Commission will announce on Thursday details of its next countermeasures against U.S. tariffs should negotiations with Washington fail, European Trade Commissioner Maros Sefcovic said on Wednesday.

"Tomorrow we will announce next preparatory steps, both in the area of possible rebalancing measures, and also in the areas important for the further discussions," Sefcovic told a news conference in Singapore after the signing of a digital trade agreement with the Southeast Asian country. 

He added that he will work closely with member states and industries to prepare for every scenario. 

"I would like to make it very clear that negotiations clearly come first, but not at any cost," he said.

The new measures would represent the EU's response to U.S. import tariffs on cars and so-called reciprocal tariffs on most other goods. 

The 27-nation bloc had in April approved duties mostly of 25% on U.S. imports amounting to 21 billion euros ($23 billion), including maize, wheat, motorcycles and clothing. The duties have been paused until July, after U.S. President Donald Trump announced a 90-day suspension of reciprocal tariffs.

The EU faces 25% U.S. import tariffs on its steel, aluminium and cars. It also faces reciprocal tariffs of 10% for almost all other goods, a levy that could rise to 20% after the 90-day pause expires on July 8.

Sefcovic previously said U.S. tariffs now covered 70% of EU goods trade to the United States and could rise to 97% after further U.S. investigations into pharmaceuticals, semiconductors and other products. 

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
REUTERS NEWS SCHEDULE AT 10 pm GMT/ 6 am SGT
REUTERS NEWS SCHEDULE AT 10 pm GMT/ 6 am SGT
Jun 22, 2025
Here are the top stories and upcoming coverage plans for Reuters text service as of 10 pm GMT/ 6 am SGT. For a full schedule of news and events, go to our editorial calendar on Reuters Connect. TOP STORIES GLOBAL UK-IRAN-NUCLEAR World awaits Iranian response after US hits nuclear sites ISTANBUL/WASHINGTON/JERUSALEM, June 22 (Reuters) - The world braced on Sunday...
BRIEF-Shift4 Payments Says To Acquire Smartpay For NZ$296.4 Million ($180M USD), Or NZ$1.20 Per Share
BRIEF-Shift4 Payments Says To Acquire Smartpay For NZ$296.4 Million ($180M USD), Or NZ$1.20 Per Share
Jun 22, 2025
June 22 (Reuters) - Shift4 Payments Inc ( FOUR ): * SHIFT4 TO ACQUIRE AUSTRALIAN PAYMENTS LEADER SMARTPAY * SHIFT4 PAYMENTS INC ( FOUR ) - TO ACQUIRE SMARTPAY FOR NZ$296.4 MILLION ($180M USD), OR NZ$1.20 PER SHARE Source text: Further company coverage: ...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
News Corp to extend CEO's contract through June 2030, company says
News Corp to extend CEO's contract through June 2030, company says
Jun 22, 2025
(Reuters) -News Corp ( NWSA ) said it is extending the contract of Chief Executive Robert Thomson, which will see him continue as CEO through June 2030, the company said in a statement on Sunday. Thomson was appointed as CEO of News Corp ( NWSA ), which owns the Wall Street Journal and book publisher HarperCollins, in 2013, and his...
Copyright 2023-2026 - www.financetom.com All Rights Reserved