MNI BRIEF: EU Targets Retaliation Tariffs On US Red States
MNI (LONDON) - The European Commission is targeting US Republican states and important US businesses to try and persuade public opinion that tariffs are not a good idea, EU sources said this morning.
Among the US products being considered are soyabeans, with an eye on Louisiana, the home state of US Speaker Mike Johnson, beef and poultry, of which "Red States" Nebraska and Kansas are big exporters, and wood products from Georgia, Virginia and Alabama. The Commission is aiming to put together a target list of around €18bn worth of US exports and to implement them by mid-April following consultations with EU states and key EU industries.
Officials suggested a 25% tariff rate on US exports was likely.
"We're trying to hit the US in important sectors for them that don't hurt us much," an EU official said, adding that we are "ready to negotiate, retaliate and litigate," the official added.