The EU plans to consolidate two sets of retaliatory tariffs against the US into a single €93 billion package, targeting imports like bourbon, airplanes, and soybeans. This unified measure, effective August 7th, is a contingency plan if trade negotiations with the US falter. The move simplifies and strengthens the EU's response to US tariffs imposed under the Trump administration. Further discussions between EU and US officials are expected.

Prepared by Christopher Adams and reviewed by editorial team.