BRUSSELS : The European Commission announced on Wednesday that it will submit the sweeping tariff package to EU member states for approval, while continuing negotiations with the United States in a bid to avoid a trade war. EU Trade Commissioner Maroš Šefčović is expected to hold urgent talks with US Secretary of Commerce Howard Lutnick ahead of the August deadline.

In its statement, the Commission emphasized that its primary goal remains a negotiated resolution with the US, but it will proceed with preparations for retaliatory measures in parallel. “We are combining the €21 billion and €72 billion lists into one consolidated counter-tariff package,” the Commission noted, confirming it will present the proposal to EU ambassadors following Šefčović’s discussions.

Importantly, none of the EU’s countermeasures will take effect before August 7. The EU had previously approved an initial round of tariffs in April but suspended implementation in hopes of a diplomatic breakthrough.

The standoff escalated after US President Donald Trump announced the possibility of slapping a 30% tariff on EU imports, sparking concern across European industries.

For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.