The United States and European Union are on the brink of a major trade agreement that would impose a 15% tariff on most EU goods entering the US, aiming to avoid President Trump's threatened 30% tariffs.
Despite progress in negotiations, the EU is preparing a massive €93-100 billion ($109-117 billion) package of retaliatory tariffs on US products if talks collapse. European leaders are signaling readiness for a trade war, with countermeasures targeting a wide range of American exports. The looming August 1 deadline has heightened tensions, impacting global markets and raising concerns among exporters on both sides.
The outcome of these talks could reshape transatlantic trade relations and have significant economic consequences worldwide.
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