European Union member states are weighing multiple options to counter President Donald Trump’s recent tariff threat, including the imposition of retaliatory levies on €93 billion ($108 billion) of U.S. goods, according to individuals with knowledge of the deliberations.
EU ambassadors convened Sunday evening in Brussels as they sought to craft a coordinated response to Trump’s declaration that he would impose 10% tariffs on eight European nations starting Feb. 1, tied to their actions in Greenland.
Other options under consideration involve deploying a potent mechanism called the anti-coercion instrument, the individuals added, speaking on condition of anonymity due to the sensitive nature of the discussions. French President Emmanuel Macron suggested on Sunday that the bloc should consider utilizing this new tool, though France had previously refrained from employing it after Trump threatened countermeasures.
The EU had greenlit retaliatory tariffs on €93 billion of U.S. products last year but halted their enforcement following the conclusion of a trade agreement between the two sides. European lawmakers indicated over the weekend they would delay approving that pact, citing Trump’s latest move.
The Financial Times earlier reported on the talks regarding the revival of retaliatory tariffs.