Thursday, October 30, 2025

EU Fires Back With €72B Tariff Counterpunch Affecting Boeing And Bourbon

The European Union has drawn up a €72 billion ($84 billion) list of US goods it is prepared to hit with new tariffs, targeting Boeing jets, cars, and Kentucky bourbon after President Donald Trump threatened to lift duties on EU imports to 30% on August 1.

A 206-page draft, obtained by Bloomberg and confirmed by multiple officials, names more than €65 billion in industrial products—led by nearly €11 billion in aircraft, €9.4 billion in machinery, and €8 billion in autos—and €6 billion in food and drink, from fresh fruit to spirits.

Availability of alternative supply and the risk that factories simply relocate were key filters, the document notes. US military kit is excluded.

EU trade chief Maroš Šefčovič called Trump’s threatened 30% tariff “effectively prohibitive” and briefed ministers in Brussels on Monday before dialing US Commerce Secretary Howard Lutnick.

“Talks must be mutually beneficial,” he said, signaling that member states still need to sign off before the counter list becomes law.

Under the draft, Boeing faces the heaviest hit, a shot at Seattle just as European carriers such as Ryanair grapple with delivery delays. Detroit’s automakers dodge a direct duty but would see price pressure if EU buyers shift toward home-built models. In Kentucky, distillers fear losing shelf space in a market that already slaps a 25% tariff on American whiskey under separate Brexit-era reprisals.

A separate €21 billion package tied to earlier US steel and aluminium duties remains suspended until August 6.

The standoff traces back to April, when Washington unveiled a 20% “reciprocal” duty on most EU goods and a 25% levy on cars and parts. Markets swooned, prompting the White House to dial the baseline down to 10% while vowing to clinch new deals within 90 days. Progress proved thin, and Trump’s weekend letter restored the headline rate to 30%, warning it could climb higher.

Bernd Lange, chair of the European Parliament’s trade committee, urged “immediate countermeasures” if Trump follows through, warning of a spiral reminiscent of the US–China tit-for-tat that rattled investors in 2018–19. The commission insists its response remains calibrated and reversible: tariff rates have yet to be assigned, and the list was trimmed from an initial €95 billion after input from companies and capitals.

Trump tells reporters “we’re always open to talk,” and Šefčovič says Europe will keep phone lines open “until the last minute.”


Information for this story was found via Bloomberg and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Silver47 Completes Property-Wide Geochemical, Rock Sampling Program At Adams Plateau, Identifies Numerous Targets

Altamira Gold Identifies Presence Of Second Mineralized Porphyry Body At Cajueiro

Related News

US-Japan Deal Reached With A Lower 15% Trump Tariff

Japan has a trade deal with US, at least according to President Donald Trump after...

Wednesday, July 23, 2025, 12:12:00 PM

John Deere Announces Mass Layoffs as Trump Tariffs Hit Agricultural Equipment Industry

Agricultural equipment manufacturer John Deere (NYSE: DE) announced layoffs affecting more than 200 workers across...

Friday, August 22, 2025, 08:39:55 AM

Trump To The World: Tariffs “For Purposes Of Fairness”

The US is poised to rattle international commerce with President Donald Trump’s renewed pledge to...

Tuesday, February 18, 2025, 12:03:00 PM

Honda Denies Report on Plans to Shift Canadian Production to the US

Honda Motor‘s Canadian unit has denied a report by Japanese business daily Nikkei that the...

Wednesday, April 16, 2025, 12:51:00 PM

‘5 Planes Full of iPhones’: Apple Rushes Shipments to US Ahead of Trump Tariffs

Apple (Nasdaq: AAPL) reportedly flew five cargo planes loaded with iPhones and other products from...

Wednesday, April 9, 2025, 07:35:22 AM