EU Trade Commissioner: EU preparing €72B in retaliatory tariffs

Maroš Šefčovič, the European Commissioner for Trade and Economic Security, has said that the European Union (EU) is prepared to impose 72 billion euros ($84 billion) in additional retaliatory tariffs on U.S. imports if trade talks with the U.S. fail. U.S. President Donald Trump had previously announced that he would impose a 30% tariff on EU imports starting August 1.