Macron urges EU to consider trade ‘bazooka’ in response to US tariffs threat
AI Summary
In response to potential tariffs from the United States, the European Union is considering countermeasures, including the Anti-Coercion Instrument, or "trade bazooka," championed by French President Emmanuel Macron. This instrument, established in 2021, allows the EU to restrict trade and investment from countries putting undue pressure on member states. Measures could include curtailing exports and imports, limiting access to public tenders, and restricting foreign investment. While some EU nations are hesitant, activating the ACI could inflict billions of dollars in losses on the U.S. economy. Trade between the EU and the U.S. amounted to 1.7 trillion euros in 2024, with major European exports including pharmaceuticals and cars, and U.S. exports including professional services and oil and gas. Activating the ACI would take at least six months.
Key Entities & Roles
Keywords
Sentiment Analysis
Source Transparency
This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).
Topic Connections
Explore how the topics in this article connect to other news stories