| EU Weighs Tariff Response; Customs-Fraud Queries Climb; a Rare New U.S. Copper Mine |
| By Mark R. Long |
The European Union is readying a fresh list of U.S. products to hit with retaliatory tariffs if a trade deal isn’t reached by President Trump’s Aug. 1 deadline.
The WSJ’s Kim Mackrael writes that the new EU list—ranging from aircraft to alcoholic beverages to medical devices—covers American imports valued at roughly $84 billion last year. EU officials circulated the list to the 27 member states after Trump threatened 30% blanket tariffs over the weekend. That revived a debate over whether and how forcefully the bloc should fight back if the two sides can’t reach a deal. In April, the EU froze an initial package of retaliatory tariffs against the U.S. after Trump said he would limit blanket duties on most countries to 10% for 90 days.
The new list covers about $77 billion worth of industrial imports and about $7 billion worth of agricultural and food products, such as fruits and vegetables, wine, beer and spirits. Officials with America’s biggest trading partner are debating what would trigger those tariffs, and whether to prepare additional measures that could put duties or other restrictions on American service, not just goods.
The U.S. said it was placing a 17% duty on most fresh Mexican tomatoes after talks ended without a deal. (Associated Press)
Trump threatened to impose “very severe tariffs” on Russia if there is no peace deal with Ukraine in 50 days. (WSJ)
U.S. imports from Russia during the first five months of this year totaled just $2.1 billion, but these included a critical nuclear-reactor fuel and metal used in catalytic converters. (WSJ)
Frozen concentrate orange juice futures have risen about 25% since Trump said he would impose 50% tariffs on imports from Brazil starting next month. (WSJ)
