Skip to Content Facebook Feature Image

EU targets 95-bln-euro worth of US imports, readies WTO litigation in case trade talks collapse

China

China

China

EU targets 95-bln-euro worth of US imports, readies WTO litigation in case trade talks collapse

2025-05-09 02:34 Last Updated At:14:57

The European Commission has launched a public consultation targeting U.S. imports worth 95 billion euros (107.2 billion U.S. dollars), warning that retaliatory measures could take effect if ongoing negotiations with the United States fail to yield an agreement, according to a statement released on Thursday.

The consultation covers a broad range of U.S. industrial and agricultural goods, including wine, frozen meat, aircraft, cars and car parts, chemicals, electrical equipment, healthcare products, and machinery.

In parallel, the bloc is also weighing new restrictions on 4.4 billion euros of European Union (EU) exports to the United States, such as steel scrap and chemical products.

Currently, the EU faces 25 percent U.S. tariffs on steel, aluminum, and automobiles, alongside 10 percent baseline duties on most other exports. The bloc has been preparing for a possible end to a 90-day tariff truce, which is set to expire on July 8. If no deal is reached, the U.S. universal tariffs could rise to 20 percent.

The Commission stated that the consultation on countermeasures aims to address both the universal U.S. tariffs and those specifically targeting cars and auto parts.

At the same time, the Commission announced that the EU will launch a World Trade Organization (WTO) dispute against the so-called "reciprocal" tariffs and duties on vehicles and vehicle components. The EU will submit a formal request for consultations, arguing that the U.S. measures violate core WTO rules.

"The EU's objective is thus to reaffirm that internationally agreed rules matter, and these cannot be unilaterally disregarded by any WTO member, including the U.S.," the statement underlined.

While underscoring the EU's preference for a negotiated solution, European Commission President Ursula von der Leyen emphasized that the bloc "continues preparing for all possibilities."

The Commission noted that nearly 70 percent of EU exports to the United States - amounting to 379 billion euros - are now affected by the new tariffs, including some that are temporarily suspended. These tariffs have increased business costs, slowed economic growth, fueled inflation, and contributed to heightened global economic uncertainty.

Stakeholders are invited to submit feedback on the proposed measures until June 10. Following the consultation, the Commission will finalize its proposal and consult EU member states. If necessary, a legal act imposing tariffs could be swiftly enacted should talks with Washington collapse.

Regarding the WTO dispute, once the EU formally requests consultations, both parties will have up to two months to reach a mutually acceptable resolution. If no agreement is reached, the EU may request the establishment of a dispute panel to adjudicate the matter.

EU targets 95-bln-euro worth of US imports, readies WTO litigation in case trade talks collapse

EU targets 95-bln-euro worth of US imports, readies WTO litigation in case trade talks collapse

EU targets 95-bln-euro worth of US imports, readies WTO litigation in case trade talks collapse

EU targets 95-bln-euro worth of US imports, readies WTO litigation in case trade talks collapse

EU targets 95-bln-euro worth of US imports, readies WTO litigation in case trade talks collapse

EU targets 95-bln-euro worth of US imports, readies WTO litigation in case trade talks collapse

International Energy Agency (IEA) Executive Director Fatih Birol warned on Thursday that the global oil market may enter a "red zone" in July and August this year, as fuel demand rise and stocks dwindle.

Birol noted that the supply crisis triggered by the situation in the Middle East was initially cushioned by spare capacity in the global oil market, but that oil stocks are now gradually decreasing.

The 32 members of the IEA on March 11 unanimously agreed to make 400 million barrels of oil from their emergency reserves available to the market in response to disruptions caused by the Middle East conflict.

The IEA stands ready to coordinate further reserve releases if necessary, Birol added.

IEA chief warns of global oil market entering "red zone" this summer

IEA chief warns of global oil market entering "red zone" this summer

Recommended Articles