EU Opens Public Comments on Tariff Countermeasures Against US, Opens WTO Dispute
The European Commission opened a public consultation regarding a list of U.S. imports that could become subject to tariffs in response to the flurry of U.S. trade action, should talks with the White House fall through, the commission announced. The list covers over $107 billion worth of U.S. imports, including a "broad range of industrial and agricultural products," it said.
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The EU said the consultation also covers possible export restrictions on nearly $5 billion worth of steel scrap and chemical products destined for the U.S. The commission will continue to monitor the "potential diversion of global exports onto the EU market," which may be caused by U.S. tariffs on third countries. As a result, it said, it will continue to pursue talks with other trading partners to "find new export outlets and diversify our sources of supply."
In addition, the bloc is launching a dispute at the World Trade Organization against U.S. reciprocal tariffs and tariffs on cars and car parts, arguing that "internationally agreed rules matter" and can't be "unilaterally disregarded by any WTO member."
The EU said that since the U.S. imposed its reciprocal tariffs on the EU, the bloc has prioritized a negotiated solution to the issue. Talks with the U.S. are "ongoing both at [a] political and technical level," but the EU is still readying countermeasures to shield its consumers and industry.
During the public consultation phase, "anyone affected by potential rebalancing measures currently being considered by the EU" can submit comments for the next four weeks. The consultation will remain open through June 10.