EU prepares tariffs on $107B of US goods

The European Union is preparing to impose tariffs on $107 billion worth of U.S. goods if a trade deal with the Trump administration isn't reached. This move is a direct response to existing U.S. tariffs. The EU's executive arm, the European Commission, announced the planned countermeasures, including tariffs on American products like wine, machinery, and electronics. The EU is also initiating a dispute at the World Trade Organization, citing violations of international trade rules. The announcement comes as the U.S. and China are engaged in trade negotiations, and the EU seeks a negotiated resolution. President Trump has expressed willingness to meet with the EU Commission president, while also recently agreeing to cut tariffs on UK goods.