From Chocolate to Olive Oil: Trump’s Tariff Threat Looms Large

The threat of a 17% tariff from Donald Trump is casting a long shadow over Europe’s lucrative food and farm produce exports to the US. From cherished Belgian chocolates to creamy Irish butter and exquisite olive oils from Italy, Spain, and France, many top-selling European goods could soon face a significant price hike for American consumers if the proposed duties are implemented.
This stark warning emerged from recent discussions in Washington, where EU trade commissioner Maroš Šefčovič was directly informed by senior US officials. The move underscores the continued aggressive tactics employed by the US in trade negotiations, with Trump historically taking a firm stance against what he perceives as unfair trade practices.
In response, the European Union has reiterated its commitment to finding a “negotiated solution,” with EU trade spokesperson Olof Gill confirming ongoing “progress towards an agreement in principle.” Yet, the EU is also making it abundantly clear that it is prepared for a potential trade war, with the capability to levy retaliatory tariffs on a diverse range of US products, including Bourbon and Boeing 747s, should Trump proceed with his plans before Wednesday.
European Commission President Ursula von der Leyen is aiming for a high-level framework deal, acknowledging the tight timeline for a comprehensive agreement. A crucial aspect of the EU’s negotiation strategy is to secure immediate tariff relief for key sectors, particularly the auto industry, which has been hit hard by a 27.5% US tariff. The looming July 9 deadline, marking the end of a 90-day tariff pause for over 60 nations, adds considerable pressure to these critical trade talks.