Summary
- The European Union is planning for targeted retaliation if Donald Trump wins back the White House.
- Trump aims to impose a 10 per cent minimum tariff which could reduce EU exports by €150 billion annually.
- Brussels plans to respond with a carrot-and-stick approach, hitting back with rebalancing tariffs of €2.8 billion.
- Despite attempts to appease US voters on lobsters and meat, the annual US trade deficit widened in 2020.