logo
Italian PM Urges EU To Avoid Trade War With US 'At All Costs' Amid Trump Tariff Talk

Italian PM Urges EU To Avoid Trade War With US 'At All Costs' Amid Trump Tariff Talk

News18a day ago
Last Updated:
Her remarks came in response to Trump's announcement that goods imported into US from EU and Mexico would face 30% tariffs from Aug 1
Italian Prime Minister Giorgia Meloni on Tuesday said European nations must do everything possible to avoid a trade war with the United States 'at all cost" ahead of looming US tariffs.
Speaking at a joint press briefing with Austrian Chancellor Christian Stocker in Rome, Meloni said she and Nehammer had discussed ongoing trade talks between the European Union and the US.
'We agree that we must, at all costs, avoid a trade war between the two sides of the Atlantic," Italian PM said.
Italian Prime Minister Giorgia Meloni calls for a trade deal between the EU and the US before August to prevent a transatlantic 'trade war." #Meloni #US pic.twitter.com/Rev8lQiTPp — Al Arabiya English (@AlArabiya_Eng) July 15, 2025
Meloni further stated that Italy and Austria would stay in close contact with the European Commission and continue working towards a 'mutually beneficial" agreement that should ideally be finalised before 1 August.
'We will continue together and in constant contact with the Commission, to work towards an agreement that can be mutually beneficial and must be concluded before next August 1," she added.
A day earlier, Meloni had issued a statement warning that a trade conflict between Western allies would only weaken them in the face of shared global challenges. She said Europe had the economic and financial strength to assert its position and secure a fair deal. 'Italy will do its part, as always," she added.
Her remarks came in response to US President Donald Trump's announcement on Saturday that goods imported into the US from the EU and Mexico would face 30% tariffs from 1 August. The move has sparked concern across European capitals and fuelled calls for a coordinated EU response.
Meloni has come under fire at home from opposition parties. Giuseppe Conte, leader of the Five Star Movement and a former prime minister, accused her of 'bowing her head" to pressure from the US. Critics say her government is not doing enough to defend Italy's interests as trade tensions escalate.
In Brussels today, EU trade ministers met to discuss the issue and described Trump's tariff plan as 'absolutely unacceptable". The bloc is now considering countermeasures, though officials say they remain hopeful of reaching an agreement with Washington.
(With inputs from agencies)
view comments
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

UK and Germany to Pledge to Defend Each Other in Reset of Ties
UK and Germany to Pledge to Defend Each Other in Reset of Ties

Mint

time25 minutes ago

  • Mint

UK and Germany to Pledge to Defend Each Other in Reset of Ties

(Bloomberg) -- UK Prime Minister Keir Starmer and German Chancellor Friedrich Merz will sign a new Anglo-German treaty in London on Thursday that includes a commitment to assist each other in case of armed attack. Starmer and Merz's predecessor, Social Democrat Olaf Scholz, laid the groundwork for the pact at a meeting last August in Berlin, when the British premier called it 'part of a wider reset grounded in a new spirit of cooperation.' Conservative leader Merz has made clear his regret over the UK quitting the European Union and has vowed to join forces with Starmer to confront challenges like Donald Trump's trade onslaught and the war on Ukraine. His trip to London comes a week after French President Emmanuel Macron made the first state visit by a European leader to the UK since Brexit, helping to reinforce warmer Anglo-French relations. Here's what to look out for from Thursday's meeting, when Starmer and Merz are due to sign the new treaty during a ceremony at London's Victoria and Albert Museum: The mutual defense pledge is a reaction both to an increasingly aggressive Russia and growing concern among European allies about US commitment to NATO under President Trump, according to a senior German official. At the same time, it's not meant to be a substitute for the principle of collective defense at the heart of NATO's founding treaty, known as Article 5, added the official, who asked not to be identified discussing confidential deliberations. For Germany, the defense element is particularly significant because the UK is, together with France, one of Europe's two nuclear powers. Germany doesn't possess its own nuclear warheads, but benefits from the protective 'umbrella' the US has spread over the continent. Atomic weapons are not explicitly mentioned in the new treaty, according to the German official. Starmer and Merz will also make a commitment to deliver a new long-range missile system — the Deep Precision Strike capability — in the next decade, according to a statement from Starmer's office. It will have a range of more than 2,000 kilometers (1,240 miles) and help boost the UK and European defense sectors via 'significant industrial investment.' The treaty also contains measures relating to trade, transport and irregular migration, part of an effort to minimize the negative effects of Brexit. Alongside the pact, Germany is expected to commit to making it illegal to facilitate irregular migration to the UK, with the law change to be adopted by the end of the year, Starmer's office said. Following the recent deal between Britain and the US, Merz and Starmer will also discuss the ongoing trade talks between Brussels and Washington, according to the German official. Merz has called for a swift EU-US trade accord and cited Trump's deal with Starmer as a potential model. Thursday's events will be a welcome distraction from domestic difficulties for both leaders. Starmer, for his part, has been forced into a spate of policy U-turns in recent weeks that have compromised his government's hard-earned reputation for fiscal discipline. 'The international stage is clearly where he is happiest at the moment,' said Gemma Loomes, a lecturer in comparative politics at Keele University. 'The treaty symbolizes his commitment to rebuilding European relations post-Brexit but also allows him to temporarily put his domestic troubles to one side.' Merz, meanwhile, is dealing with an increasingly fractious ruling coalition, with his conservative CDU/CSU bloc and the Social Democrats at odds over issues ranging from welfare reforms to judicial appointments and already drawing comparisons with the infighting that dogged Scholz's administration. Beyond the treaty, the UK and Germany will also unveil commercial investments worth more than £200 million ($268 million) that will create around 600 new jobs, according to Starmer's office. These include: More stories like this are available on

TSMC quarterly profit seen hitting record but Trump tariffs, forex a concern
TSMC quarterly profit seen hitting record but Trump tariffs, forex a concern

Mint

time25 minutes ago

  • Mint

TSMC quarterly profit seen hitting record but Trump tariffs, forex a concern

Analysts expect a 52% surge in second-quarter profit TSMC benefiting from surge towards AI Earnings call at 0600 GMT TAIPEI, - TSMC, the world's main producer of advanced AI chips, is expected to post a 52% jump in second-quarter profit to record levels on Thursday, though U.S. tariffs and a strong Taiwan dollar could weigh on its outlook. Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker and a key supplier to Nvidia and Apple, is forecast to report net profit of T$377.4 billion for the three months through June 30, according to an LSEG SmartEstimate compiled from 21 analysts. SmartEstimates place greater weight on forecasts from analysts who are more consistently accurate. The company will report the headline profit figure at 0530 GMT which will be followed by an earnings call from 0600 GMT that will include third-quarter guidance. TSMC has already flagged a rise in second-quarter revenue of 38.6%. Any profit result above T$374.68 billion would mark the company's highest-ever quarterly net income and its sixth consecutive quarter of profit growth. It remains unclear just how much U.S. President Donald Trump's tariffs will affect TSMC. Taiwan was threatened with a 32% reciprocal tariff rate in April but has yet to be notified of an updated figure that some countries have received. Trump also said this month that tariffs on semiconductors are likely to come soon. The company said in June that U.S. tariffs were having some indirect impact, noting they can lead to slightly higher prices, which may in turn weigh on demand. In March, TSMC announced a $100 billion investment in the U.S. alongside Trump at the White House, on top of $65 billion pledged for three Arizona plants - two of which have been built. Another key issue is the Taiwan dollar's 12% appreciation against the greenback so far this year. TSMC has said a 1% appreciation in the Taiwan dollar typically reduces its gross margin by 0.4 percentage points. In June, the company said that strengthening in the Taiwan dollar had shaved more than 3 percentage points off its gross margin. Shares in TSMC surged some 80% last year but have climbed just 5% for the year to date on worries about tariffs and unfavourable currency exchange rates. This article was generated from an automated news agency feed without modifications to text.

Khamenei warns of 'even bigger blow' to US and Israel if attacked again
Khamenei warns of 'even bigger blow' to US and Israel if attacked again

India Today

time25 minutes ago

  • India Today

Khamenei warns of 'even bigger blow' to US and Israel if attacked again

Iran's Supreme Leader, Ayatollah Ali Khamenei, has once again warned the United States and Israel amid rising pressure on Tehran over its nuclear activities. Speaking on state television Wednesday, Khamenei said, "The fact that our nation is ready to face the power of the United States and its dog on a leash, the Zionist regime, is very praiseworthy."Khamenei referred to Iran's strike on the US Al Udeid Air Base in Qatar, saying it was "just the beginning" and warned that "an even bigger blow could be inflicted on the US and others." His comments came the West continue to push for fresh nuclear negotiations while also considering the possibility of reimposing sanctions on MISSILE STRENGTH STILL A CONCERNDespite recent Israeli strikes on Iranian nuclear and military facilities -- including a destructive hit on the Fordow nuclear site in June -- US intelligence has assessed that while Iran's nuclear ambitions may be delayed by up to two years, its missile and drone capabilities remain mostly intact. According to Bill Roggio, a senior fellow at the Foundation for the Defence of Democracies (FDD) and editor of the Long War Journal, Iran still possesses around 1,500 medium-range ballistic missiles and roughly 50 percent of its launch SAYS HE'S 'IN NO RUSH TO TALK'Amid ongoing tensions, US President Donald Trump has adopted a cautious tone on the issue. Speaking to reporters Tuesday, Trump said he remains open to negotiations but added, "I'm in no rush to talk."NUCLEAR TALKS UNCERTAIN AS SANCTIONS THREATENMeanwhile, Western nations have made it clear that if Iran fails to make progress on talks with the US by the end of the summer, they may activate the "snapback" sanctions — a provision under the 2015 nuclear deal allowing the re-imposition of international sanctions if Iran fails to Foreign Ministry told Fox News Digital, "A sustainable and verifiable diplomatic solution that addresses the security interests of the international community is essential. If such a solution is not achieved by the end of the summer, the snapback mechanism will remain an option for the E3."The E3 refers to France, Germany, and the United Kingdom — the three European countries involved in the 2015 nuclear agreement known as the Joint Comprehensive Plan of Action (JCPOA). "We continue to coordinate closely with our E3 partners on this issue," the German ministry added.- EndsWith inputs from ReutersMust Watch

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store