70% of EU exports worth €380 billion fall under increased US tariffs – European Commissioner

EU Commissioner for Justice Michael McGrath stated that exports from the European Union worth €380 billion are subject to increased customs duties from the United States, introduced by American leader Donald Trump. This is reported by The Guardian, writes UNN.

McGrath added that the measures announced by Trump will affect almost 70% of the goods that Europe supplies to the United States.

This includes exports worth €290 billion that fall under so-called reciprocal tariffs. Supplies of another €26 billion are subject to US tariffs on steel and aluminum, and €67 billion on machinery and auto parts.

At the same time, the US will receive an additional 80 billion euros in customs revenues from European exports.

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The European Commissioner stated that the EU’s response will be “very carefully calibrated”, although Europe is “ready to negotiate” with the US.

After another increase in customs duties by the US, EU leaders called on the European Commission to prepare a mirror response to the States. Germany and France are pushing for a more aggressive response to the new US tariffs.

Spain, on the other hand, will allocate €14.1 billion to support the economy due to US tariffs