EU Targets $845 billion in Tariffs Amid Trump’s Levy Threat

- EU drafts measures targeting $845 billion in US goods - 30% US tariff set to take effect August 1, 2025 On July 17, 2025, Cryptopolitan reported the European Union is preparing retaliatory tariffs on US goods in response to President Trump’s planned 30% import tax on EU products, which is set to take effect on August 1. The move signals a major escalation in trade tensions and threatens the $1.7 trillion transatlantic trade relationship, a cornerstone of global commerce. The EU’s proposed tariffs would target up to $845 billion in US goods, highlighting the gravity of the standoff. On July 14, Politico reported that the European Commission is drafting a list of US goods for the tariff package, initially setting the target at €95 billion before revising it down to €72 billion (approximately $84 billion). The items under consideration include aircraft and parts, vehicles, machinery, chemicals, electrical products, agricultural goods, and alcoholic beverages. A tariff on US-manufactured aircraft could deliver a significant blow to aerospace giant Boeing, while measures on agricultural products and automobiles could impact large swathes of the US economy. President Trump’s 30% levy is a steep increase from a previously suspended 10% rate. He justified the hike by citing an asymmetric trade relationship that he claims favors the EU. The announcement has already caused economic instability in Europe, where French and German bonds experienced declines reminiscent of the 2009-2011 eurozone debt crisis. As a result, concerns over a potential drawn-out trade war have rattled investor sentiment across markets. While preparing countermeasures, EU officials have signaled their willingness to resolve the dispute through dialogue. Maros Sefcovic, the European Union’s Trade Commissioner, described their preparations as a contingency for a “super-negative scenario” but stressed that negotiation is important to prevent further escalation. European Commission President Ursula von der Leyen reinforced this sentiment, advocating for continued communication with Washington while insisting that the EU is ready to defend its economic interests. The European Commission's trade policy committee, however, must approve the draft tariff list before it can be implemented. As of July 17, 14:00 UTC, Ethereum (ETH) is trading at $2,154, reflecting a 3.1% decrease in 24-hour trading volume, according to CoinMarketCap.