Source: EU prepares retaliatory plan amid tough US trade stance

Odaily News According to foreign media reports, EU envoys will meet as early as this week to develop a countermeasure plan for a possible no deal situation with US President Trump. Ahead of the August 1 deadline, Trumps tariff negotiation stance is seen as having hardened. Although the vast majority prefer to keep the talks with Washington going in the hope of reaching a negotiated outcome to resolve the deadlock before next months deadline. But according to people familiar with the matter, the efforts of all parties have not made sustained progress since the talks in Washington last week. Negotiations will continue in the next two weeks. People familiar with the matter who asked not to be named said that the United States now appears to want to impose tariffs higher than 10% on EU goods, with a narrowing scope of exemptions limited to the aviation industry, some medical devices and generic drugs, several alcoholic beverages, and a specific class of manufacturing equipment needed by the United States.