World Business Report Withdrawing EU tariff retaliation plan ‘a mistake': former EU Trade Commissioner
Jul 28, 2025
A former EU trade commissioner reveals the concerns over a new trade agreement that favors US goods, leaving European exports hit with a hefty tariff. Perspectives from an Irish pub landlord in Chicago and a US distiller highlight the impact on local businesses and consumer choices. The podcast also tackles the aftermath of tariff changes and their broader implications. Additionally, it celebrates the burgeoning popularity of women’s football, showcasing its economic growth and the need for continued support to achieve parity with men's sports.
AI Snips
Chapters
Transcript
Episode notes
Unequal EU-US Tariff Deal
- The EU faces a 15% tariff on exports to the US, while US exports to the EU face zero tariffs under the new deal.
- This asymmetric arrangement is seen as unfavorable to the EU and may strain certain sensitive industries like steel and aluminium.
EU Retaliation Withdrawal Mistake
- The EU's initial retaliation tariffs were withdrawn prematurely, which was seen as a strategic mistake.
- Retaining these retaliation measures would have strengthened the EU's negotiating position against the US tariffs.
Tariffs as Geopolitical Tools
- The current EU-US arrangement reflects the Trump administration's use of tariffs as geopolitical leverage rather than fair trade measures.
- Such tactics damage the global trading system and important supply chains.