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EU to prepare countermeasures to US reciprocal tariffs, says EU chief

  • Donald Trump's administration imposed 20% tariffs on EU goods sold to the US, impacting various sectors.
  • These tariffs, dubbed 'Liberation Day' tariffs, stemmed from the US belief that the EU charges unfair tariffs.
  • French businesses convened an emergency meeting, as sectors like brandy, cognac, and gas turbines faced new challenges.
  • Emmanuel Macron stated the tariffs would have a 'massive impact' and issued a 'call to arms': 'not to invest in America'.
  • The EU considers retaliatory measures, potentially targeting US Big Tech, while Deutsche Bank projects a 0.4-0.8% GDP hit.
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Consenso del Mercado broke the news in on Wednesday, April 2, 2025.
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