While the U.S. has yet to finalize tariff measures for imported EU goods, the EU’s top trade negotiator is speaking out on the potential impact. According to the WSJ, Maros Sefcovic, the European commissioner for trade, stated that up to $621.28 billion of EU exports to the U.S. could incur tariffs, resulting in over $100 billion of tariff collections to the U.S.
Top EU Trade Negotiator Warns of Impact of Tariffs
The U.S. is still debating exact tariff measures for several EU imports, such as copper, lumber, and pharmaceuticals. Sefcovic added that he has been frequently communicating with the U.S. in order to strike a deal, saying “The EU has made clear that we are ready to discuss and we are ready to find mutually beneficial solutions.”
Despite the potential impact, the SPDR Euro Stoxx 50 ETF (FEZ) is still up by nearly 20% YTD, outperforming the S&P 500 (SPX) by a wide margin.
