EU may introduce restrictions on exports to US

According to the sources, this move is being considered as a deterrent if trade negotiations with Washington fail to produce a satisfactory outcome

The European Union (EU) is working on a proposal to introduce restrictions on exports of some European goods to the US, Bloomberg reported, citing sources.

According to the news agency, this move is being considered as a deterrent if trade negotiations with Washington fail to produce a satisfactory outcome.

An export restriction is one of several options the EU is mulling as a potential retaliatory strategy, the agency’s sources said.

Additionally, Brussels is considering introducing additional lists of tariffs on US goods and limiting public procurement for American companies.

Earlier, US President Donald Trump said he was “very confident” of a deal with the EU before the expiration of the 90-day grace period on additional import tariffs he introduced for some countries.

On April 2, Trump announced the introduction of tariffs on products from 185 countries and territories. Russia is not present on the list. Baseline tariffs of 10% came into force on April 5, while individual levies on countries became effective on April 9.

That said, on April 9, Trump announced suspension of additional import tariffs imposed on a reciprocal basis for a number of countries and territories for 90 days.

The White House explained that the pause was related to trade negotiations, adding that during this period, a universal tariff of 10% will be in effect.

The US leader said he was open to discuss the tariffs with his trade partners. Moreover, Trump did not rule out extending the 90-day grace period.