The European Union is bracing for a major trade confrontation with the United States as former President Donald Trump threatens to impose sweeping tariffs of up to 30% on EU exports.
With an August 1 deadline fast approaching and negotiations faltering, EU officials are finalizing a broad retaliation plan that includes counter-tariffs, digital service taxes targeting US tech giants, and the possible deployment of the powerful 'Anti-Coercion Instrument.' European leaders have called Trump's tariff demands 'unacceptable' and warn that such measures could severely damage the global economy and disrupt industries from cars to wine and cheese. The escalating standoff has rattled financial markets and left businesses on both sides of the Atlantic anxious about the fallout.
As both sides dig in, the risk of an all-out trade war is higher than ever.
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