EU says it still wants US trade deal

Ammon

19 hours ago

Ammon News - The European Union said on Saturday it was ready to retaliate to defend its interests if the United States pressed ahead with imposing a 30% tariff on European goods from August 1.
U.S. President Donald Trump latest salvo surprised the bloc, the United States' largest trading partner, which had hoped to avoid an escalating trade war after intense negotiations and increasingly warm words from the White House.
Ursula von der Leyen, head of the EU executive which handles trade policy for the 27 member states, said the bloc was ready to keep working towards an agreement before August 1, but was willing to stand firm.
"We will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required," she said of possible retaliatory tariffs on U.S. goods entering Europe.
EU ambassadors will discuss next steps on Sunday, before trade ministers meet in Brussels on Monday for an extraordinary meeting.
They will need to decide whether to impose tariffs on 21 billion euros of U.S. imports in retaliation against separate U.S. tariffs against steel and aluminium, or extend a suspension which lasts until the end of Monday.
European capitals swiftly backed von der Leyen's position.
German Economy Minister Katherina Reiche called for a "pragmatic outcome to the negotiations".
Trump's proposed tariffs "would hit European exporting companies hard. At the same time, they would also have a strong impact on the economy and consumers on the other side of the Atlantic," she said.
French President Emmanuel Macron said on X that the European Commission needed more than ever to "assert the Union's determination to defend European interests resolutely".
Retaliation might need to include so-called anti-coercion instruments if Trump did not back down, Macron said.
Trump has periodically railed against the European Union, saying in February it was "formed to screw the United States".
His biggest grievance is the U.S. merchandise trade deficit with the EU, which in 2024 amounted to $235 billion, according to U.S. Census Bureau data.