The European Union (EU) has threatened to impose approximately €100 billion in tariffs on US imports, including bourbon, Boeing aircraft, poultry, and alcohol, if a trade deal isn't reached with the US by the end of next week. This consolidated list combines two previously separate lists of goods targeted for retaliatory measures against US President Trump's import tariffs. If approved by EU member states (a vote is expected soon), the tariffs could be imposed from August 7th. The EU's trade spokesperson, Olof Gill, stated the EU’s primary focus is a negotiated outcome, but they are preparing for all possibilities.

The decision follows the US president’s rejection of a prior agreement and his threat of 30% blanket tariffs on EU goods starting August 1st if no deal is reached. Germany, heavily impacted by the current tariffs on its car industry, is considering using the EU's anti-coercion instrument (ACI), allowing for broader retaliatory actions, including potential bans on US services. Several European car manufacturers, including Stellantis and Volvo, have already reported significant losses due to existing tariffs. There's a growing sentiment within the EU that a firmer stance is necessary to counter Trump's actions. Some experts believe the EU missed an opportunity to use the ACI earlier. A face-to-face meeting between key EU leaders and President Trump is suggested as a potential solution.

Impact Statement: The threatened tariffs could significantly escalate trade tensions between the EU and the US, impacting various industries and potentially causing further economic disruption.