But there could still be a sting in the tail for Ireland, as whiskey and thoroughbred horses are on the proposed list, which might lead to further US retaliation, should they be imposed.
There is a further potential problem for major employers Ryanair, with tariffs proposed against Boeing, with whom the airline has a pipeline of orders worth €30 billion through to 2034.
EU officials stressed at the Berlaymont in Brussels today that this is a “proportionate” response to US President Donald Trump’s so-called Liberation Day tariffs against the EU, which total nearly €380 billion – and is in fact barely more than a quarter of that burden.
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But they stress that all options remain on the table, including impositions on services, which could hit big tech, social media and streaming platforms.
Today’s tariffs may not be imposed at all – the aim is for a “mutually advantageous negotiated settlement,” officials stressed, even as the UK looks set to announce a tariff deal with the United States today.
The EU is “not pursuing a dollar for dollar approach,” yet the countermeasures — which will now go out to EU members and stakeholders for consultations – hit a wide range of industries and products.
There are €10.5 billion tariffs on US aircraft, with processed food, vegetables and fish products hit, which could have implications for Irish Agrifood later, although the application from the EU side here is limited.
The bulk of impositions will go on industrials – including chemicals, automotive (cars and car parts), engines, electrical equipment, machinery and appliances.
Taoiseach Micheál Martin, who met European Commission President Ursula von der Leyen, will be happy that most of Ireland’s wish-list has been met, although there are hits to Kentucky bourbon in response to US 25pc tariffs on EU wines and spirits, currently suspended for 90 days.
The €7.2bn tariffs on electrical equipment will hit many devices, screens and monitors, radar, satellite navigation systems and even jukeboxes.
“We want to protect the very important pharmaceutical sector,” said an EU official in a press briefing, adding however, that some US healthcare products were on the list, such as syringes.
In all, €1.3 billion of US alcohol is targeted, but this is a tiny proportion of the overall €95 billion, amounting to less than 2pc – and limiting American scope for response, given its attack on EU alcohol already.
There will also be some export restrictions introduced, if member states agree and there is no transatlantic trade deal, which would stifle some areas of the US economy.
The EU said it was concerned to achieve rebalancing of trade, and there was currently “asymmetry” because of the extent of US impositions, paused for now. It was not a matter of retaliation, they said, but of “being prepared for all scenarios”.
Litigation against the United States at World Trade Organisation (WTO) level is simultaneously taking place, but this is expected to wither on the vine if trade talks produce a disengagement from Trump’s tariff wars and an equitable trading environment.
EU Trade Commissioner Maros Sefcovic is already in touch with US colleagues and both sides probe for an understanding.
On April 2 last, President Trump announced tariffs for EU goods set at 20pc. The US also imposed a tariff of 25pc on all imports of vehicles and car parts.
These were announced in addition to 25pc tariffs on imports of steel, aluminium, and derivative products the US previously put forward in February.
President von der Leyen responded by announcing the preparation of EU countermeasures against the US, if negotiations to remove these tariffs should fail.
On April 9, the US announced a 90-day pause of the EU-specific 20pc tariff, leaving in force a 10pc tariff.
In response to this pause, on April 14, the EU responded by putting on hold planned countermeasures against US tariffs on EU steel and aluminium imports, “to allow space for negotiations”.
Currently, €379 billion of EU exports to the US (or 70pc of EU exports to the US) are subject to new tariffs (including tariffs put on pause) since the second Trump administration took office.
“Already, the US tariffs are raising costs for business, stifling growth, fuelling inflation and heightening economic uncertainty,” the EU Commission said as it announced its potential countermeasures today.
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