Thursday, October 9, 2025

Latest

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

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Will The New “Fentanyl Czar” Be Enough To Hold Trump Tariffs?

Ottawa has named Kevin Brosseau—once a deputy national security and intelligence adviser to Prime Minister...

Wednesday, February 12, 2025, 11:10:00 AM

US Warns Blanket 10% Levy To 100 Nations as Truce on Trump Tariffs Runs Out

The 90-day truce that has kept most of President Donald Trump’s “reciprocal” import taxes at...

Monday, July 7, 2025, 10:44:00 AM

BREAKING: Trump Announces Expanded Market Access In First Post-Tariff Deal With UK

President Donald Trump on Thursday announced a preliminary trade agreement with the UK—his first since...

Thursday, May 8, 2025, 11:32:06 AM

US Leverages Trade Talks to Push Starlink Expansion, Documents Show

The United States is leveraging tariff negotiations to secure foreign regulatory approvals for Elon Musk’s...

Thursday, May 8, 2025, 11:38:00 AM

India Faces Steeper US Tariffs… If Russia Won’t Agree To Peace Talks?

While not part of Friday’s Alaska summit, India is facing it with a clear downside:...

Friday, August 15, 2025, 11:14:00 AM