European Union member states are discussing several options for how to respond to President Donald Trump’s latest tariff threat, including imposing retaliatory levies on €93 billion ($108 billion) of US goods, according to people familiar with the talks.
EU ambassadors met Sunday evening in Brussels as they tried to devise a joint response to Trump’s announcement that he would put 10% tariffs on eight European countries on Feb. 1 in relation to their actions in Greenland.
Among the other options being discussed is using a powerful tool known as the anti-coercion instrument, added the people, who asked not to be identified discussing sensitive conversations. French President Emmanuel Macron suggested on Sunday the bloc should consider using that new tool, although France backed away from using it in the past after Trump threatened to retaliate.
Last year, the EU had approved retaliatory tariffs on €93 billion of US products but suspended their implementation after the two sides reached a trade pact. European lawmakers suggested over the weekend that they will hold off on approving that trade pact, citing Trump’s latest move.
The Financial Times reported earlier on the discussions over reviving retaliatory tariffs.
This story was originally featured on Fortune.com
Credit: Source link
