The EU is preparing to impose retaliatory tariffs on $720 billion worth of US goods

July 14th. European Commissioner for Trade and Economic Security, Phil Hogan, stated on the 14th that if the US-EU trade negotiations fail, the EU is prepared to impose additional retaliatory tariffs on US imported goods worth €720 billion (approximately $840 billion US dollars). Just as the EU and the US are working to reach a trade agreement, US President Trump announced on the 12th that starting from August 1st, a 30% tariff will be imposed on EU imported goods. EU member state ministers met in Brussels on the 14th to discuss how to respond to Trump's latest statement and prepare retaliatory measures. (FX678) [BlockBeats News]