AmCham EU is concerned about the United States potentially imposing a 30% tariff on EU imports as of August 1. This move would generate damaging ripple effects across all sectors of the EU and US economies. Tariffs disrupt supply chains and add costs and complexity for businesses on both sides of the Atlantic, undermining their competitiveness. In this context, the EU’s decision to hold off on imposing countermeasures against the US until early August is a constructive signal. It provides relief to industry, helps avoid further escalation and creates space for continued dialogue. The two sides must urgently seek a negotiated outcome to the ongoing dispute with the goal of lowering barriers to trade.
The transatlantic economic relationship – worth €8.7 trillion – remains the most integrated in the world. Despite political tensions, the EU and the US share more priorities than differences. A permanent solution to transatlantic trade is needed to ensure long-term predictability for American and European companies.
https://www.amchameu.eu/news/eu-us-trade-dispute-measured-eu-response-paves-way-negotiated-outcome