In Response to Trump’s 30% Tariff Threat, EU Strikes Back With 116 Trillion Won in Retaliatory Tariffs

U.S. Aircraft and Automobiles Included on the List
Member States' Approval Required to Implement Retaliatory Measures

The European Union (EU) has prepared a second list of retaliatory tariffs worth approximately 72 billion euros (about 116 trillion won) in response to the United States' plan to impose a 30% tariff.

AFP Yonhap News

According to Politico Europe on July 14 (local time), the European Commission has drawn up a list of retaliatory targets totaling 200 pages, which includes a large number of industrial products and agricultural goods.

Of the targeted items, industrial products account for about 65.7 billion euros (approximately 106.1 trillion won), making up the majority, while agricultural goods are valued at 6.4 billion euros (about 10.3 trillion won). Among individual items, aircraft and aircraft parts represent the largest share at 11 billion euros (about 17.7 trillion won), suggesting that U.S. aircraft manufacturers such as Boeing are likely to be hit the hardest.

In addition, the EU has selected machinery, automobiles, chemical products, plastics, medical devices, and electrical equipment as retaliatory items, and also included bourbon whiskey, which is mainly produced in Kentucky, United States.

The European Commission stated that this measure is "an action to restore the trade balance disrupted by the U.S. tariff imposition," and explained that "the selection of retaliatory items took into account whether alternative suppliers for U.S. products could be secured within the EU or from third countries." Items that are likely to have their production bases relocated to the United States were also included among the retaliatory targets.

However, for these retaliatory measures to actually take effect, they must receive official approval from all 27 member states. At the EU Foreign Affairs Council’s trade session held that day, participants only expressed support for the Commission’s negotiation strategy without holding a vote.

Previously, U.S. President Donald Trump sent a letter to the EU on July 12 warning that if a trade agreement was not reached by August 1, a 30% reciprocal tariff would be imposed.