The EU has prepared trade retaliation options against the U.S. amidst efforts for a tariffs trade deal. Tariffs of up to 30% on €93bn of U.S. imports could start on August 7. Diplomatic sources assert that while they prefer negotiation, all measures will be considered if a deal fails. A potential agreement for 15% reciprocal tariffs on EU exports is imminent, but if Trump escalates tariffs beyond August 1, the EU will respond. Ireland might benefit from tariff exemptions in some sectors, while concerns remain for pharmaceuticals.
"Our first, second and third priorities are to get to a negotiated outcome, but we will not hesitate to use all tools available to us in case a deal is blocked or not upheld."
"If reports are correct, a deal that would levy 15pc 'reciprocal' tariffs on most EU exports to the US is close to being signed."
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