EU Trade Commissioner Maros Sefcovic has announced that the European Union is ready to impose retaliatory tariffs on US imports worth 72 billion euros (approximately 84 billion dollars). This action is a direct response to potential tariffs from the US, escalating trade tensions. Why Retaliatory Tariffs? The EU's move comes after announcements from the US side regarding tariffs on EU goods. Sefcovic emphasized the EU's commitment to protecting its own economic interests and industries. The tariffs are designed to counter the potential negative impact of US trade policies on European businesses. What's Next for EU-US Trade Relations? If trade negotiations fail to produce a mutually acceptable outcome, these tariffs will be implemented. This situation could significantly impact various sectors on both sides of the Atlantic, potentially leading to a broader trade war. The EU hopes for a negotiated solution to avoid further escalation. ```