EU prefers negotiated solution with US, says von der Leyen
President Donald Trump yesterday threatened to impose a 30% tariff on imports from the EU and Mexico starting on 1 August, after weeks of negotiations with the major US trading partners failed to reach a comprehensive trade deal.
"The (anti-coercion) instrument is created for extraordinary situations, we are not there yet," Ms von der Leyen said, a reference to a tool that allows the EU to go beyond traditional tariffs on goods and impose restrictions on trade in services too.
The EU's current suspension of its retaliation over US steel and aluminium tariffs had been set to expire overnight tomorrow.
Ms von der Leyen also announced a "political agreement" with Indonesia to conclude a free trade deal, as she met President Prabowo Subianto in Brussels.
"We're living in turbulent times and when economic uncertainty meets geopolitical volatility, partners like us must come closer together. So today we're taking a big step forward in this partnership," Ms von der Leyen told journalists.
Meanwhile, German's finance minister has said that the European Union will need to take "decisive" action to counter US tariffs if no "fair" deal is reached with Washington to avert threatened levies.
Lars Klingbeil told the Sueddeutsche Zeitung newspaper that "serious and solution-oriented negotiations" with the US were still necessary, but added that if they fail, the EU would need "decisive counter-measures to protect jobs and businesses in Europe".
Mr Klingbeil said the tariffs would have "only losers" and "threaten the American economy at least as much as businesses in Europe".
He said that "Europe remains determined and united: we want a fair deal."
"Our hand remains outstretched but we won't accept just anything," Mr Klingbeil said, and added that contingency measures in the case of no deal "must continue to be prepared".
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