US imposed duties on 70% of EU exports, may increase to 90%

European Commissioner for Trade and Economic Security Maros Sefcovic warned that the US was planning to expand tariffs against the EU

The United States has already imposed duties on 70% of EU exports for a total of 380 billion euros per year and is preparing to bring this percentage to 97%, European Commissioner for Trade and Economic Security Maros Sefcovic said at a session of the European Parliament in Strasbourg.

“The US has temporarily decreased its universal additional tariffs from 20% to 10%. <…> However, US tariffs still cover 380 billion euros worth of EU exports to the US corresponding to 70% of our total exports, at rates between 10 and 25%,” he said.

He also warned that the US was planning to expand tariffs against the EU, conducting six anti-dumping investigations into European goods, including pharmaceuticals, semiconductors and rare earth minerals.

If all of these investigations result in tariffs, Washington will impose tariffs on 97% of EU exports, the EU commissioner said.