The European Union (EU) and the United States (US) are having important talks about trade. But if these talks don’t go well, the EU says it might put big taxes on US goods worth $84 billion! 😲
What’s Happening?
Maros Sefcovic, the EU’s trade chief, announced that they have a list of US products they could tax if they can’t agree on trade rules by August 1. This means things made in the US could become more expensive in Europe.
Why Are They Doing This?
US President Donald Trump has threatened to put a 30% tax on goods coming from the EU. The EU thinks this is unfair and wants to be ready to respond if it happens.
What’s a Tariff?
A tariff is like a tax that countries put on goods coming from other countries. It can make those goods more expensive. This can affect how much people buy and sell between countries.
Can They Come to an Agreement?
EU ministers are hopeful they can make a deal before the deadline. They want to avoid these big taxes because it can hurt businesses and people who buy things.
What Does This Mean for Us?
If the EU and US can’t agree, it could mean some products we like might cost more or be harder to get. Let’s hope they find a solution! 🤞
Reference(s):
EU says it could target $84 billion of U.S. goods if tariff talks fail
cgtn.com
