EU may impose 30% tariffs on US goods

The European Union said on Wednesday it plans to hit the US with 30% tariffs on over $100 billion worth of goods in the event the two sides cannot reach a trade deal by Aug. 1, Bloomberg News said.

The European Commission will combine $24 billion in approved tariffs with a proposed $83 billion US goods list into one countermeasure package that would hit everything from American whiskey to cars to Boeing planes, Bloomberg said.