The 27-member bloc says Washington’s newest threats towards its exports are ‘completely unacceptable’.
The European Union has promised to take countermeasures towards the USA if the administration of US President Donald Trump introduces 30 % tariffs on imports from the bloc subsequent month.
After ministers met in Brussels on Monday to debate the tariff menace Trump issued over the weekend, the EU’s commerce consultant Maros Sefcovic mentioned such a transfer by Washington could be “completely unacceptable”.
Sefcovic mentioned the 27-nation bloc, which is the US’s largest enterprise companion, wished to succeed in an settlement by means of negotiations.
“I’m completely one hundred pc positive {that a} negotiated resolution is a lot better than the strain which we’d have after August 1,” he informed reporters in Belgium, including that “we have to be ready for all outcomes”.
Lars Lokke Rasmussen, the international minister of Denmark, which at present holds the presidency of the EU, strengthened the identical message.
“The EU stays able to react and that features strong and proportionate countermeasures if required and there was a powerful feeling within the room of unity,” he mentioned.
As a part of its preparations, Italy’s Overseas Minister Antonio Tajani confirmed that the EU had drawn up plans to focus on US items value $24.5bn.
Trump’s newest commerce conflict escalation has alarmed European politicians and companies working in Europe.
German Chancellor Friedrich Merz has mentioned such excessive US duties would “hit the German export trade to the core”.
In the meantime, the American Chamber of Commerce to the European Union, a bunch that represents main US corporations within the EU, mentioned Trump’s plan might “generate damaging ripple results throughout all sectors of the EU and US economies”.
Amid the uncertainty, European shares fell on Monday, with automotive and alcohol shares amongst these worst affected.
Talking from the Oval Workplace of the White Home on Monday, Trump mentioned he was nonetheless prepared to speak with commerce companions, together with the EU, as he regarded to spice up the US economic system and revitalise home manufacturing.
After concentrating on dozens of nations with so-called “reciprocal tariffs” in April, the US president paused them for 90 days to barter particular person agreements.
In addition to concentrating on the EU final week, Trump additionally threatened to carry 25 % tariffs towards Japan and South Korea, 30 % tariffs towards Mexico, and 35 % tariffs towards Canada.
