The EU removed Bourbon from a list of proposed counter-tariffs of 25% on a variety of U.S. goods intended as a response to President Trump’s tariffs on EU steel and aluminum.
U.S. wine was also removed from the list, The Wall Street Journal reported. We couldn’t immediately confirm that.
The European Commission President Ursula von der Leyen said the Commission was prepared to negotiate zero-for-zero tariffs with the U.S. Trade commissioner said the U.S.. tariffs of 20% or 25% hit 70% of EU exports – an 11% jump from the $7.64 billion the U.S. currently collects on European exports.
EU Trade Commissioner Šefčovič said the U.S. nd EU both recognize the relationship “could benefit from a fresh look and a boost in strategic areas. We face similar challenges, for instance, global overcapacities driven by non-market practices, the race for leadership in semiconductors, or securing critical minerals.”
He noted that the U.S. “views tariffs not as a tactical step but as a corrective measure. While the EU remains open to – and strongly prefers – negotiation, we will not wait endlessly. Until we see tangible progress, we will be working along three tracks:
- Defend EU interests through countermeasures
- Diversify EU trade through new agreements
- Deter harmful trade diversions.
He noted that the U.S. makes up just 13% of global goods trade. “Our priority, along with the rest of the WTO, is to protect the remaining 87 percent and make sure that the global trade system prevails for the rest of us.”