Europe Mulls Speeding Up Trade Retaliation Against the US

Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.

The EU is signaling it may accelerate retaliatory measures against the US if President Donald Trump follows through on his tariff threats, including a new 50% levy on steel and aluminum imports. The Commission said the tariff hike — from an originally planned 25% — is jeopardizing ongoing efforts to reach an agreement. A commission spokesperson said yesterday that if no solution is reached, both existing and potentially additional EU counter-measures will kick in on July 14 — or even before if the need arises. The EU’s trade czar Maros Sefcovic will meet with US Trade Representative Jamieson Greer tomorrow in Paris.