Trump issued over the weekend<\/a>, the EU\u2019s trade representative Maros Sefcovic said such a move by Washington would be \u201cabsolutely unacceptable\u201d.<\/p>\nSefcovic said the 27-nation bloc, which is the US\u2019s largest business partner, wanted to reach an agreement through negotiations.<\/p>\n
\u201cI\u2019m absolutely 100 percent sure that a negotiated solution is much better than the tension which we might have after August 1,\u201d he told reporters in Belgium, adding that \u201cwe must be prepared for all outcomes\u201d.<\/p>\n
Lars Lokke Rasmussen, the foreign minister of Denmark, which currently holds the presidency of the EU, reinforced the same message.<\/p>\n
\u201cThe EU remains ready to react and that includes robust and proportionate countermeasures if required and there was a strong feeling in the room of unity,\u201d he said.<\/p>\n
As part of its preparations, Italy\u2019s Foreign Minister Antonio Tajani confirmed that the EU had drawn up plans to target US goods worth $24.5bn.<\/p>\n
Trump\u2019s latest trade war escalation has alarmed European politicians and businesses operating in Europe.<\/p>\n
German Chancellor Friedrich Merz has said such high US duties would \u201chit the German export industry to the core\u201d.<\/p>\n
Meanwhile, the American Chamber of Commerce to the European Union, a group that represents major US companies in the EU, said Trump\u2019s plan could \u201cgenerate damaging ripple effects across all sectors of the EU and US economies\u201d.<\/p>\n
Amid the uncertainty, European stocks fell on Monday, with car and alcohol stocks among those worst affected.<\/p>\n
Speaking from the Oval Office of the White House on Monday, Trump said he was still willing to talk with trade partners, including the EU, as he looked to boost the US economy and revitalise domestic manufacturing.<\/p>\n
After targeting dozens of countries with so-called \u201creciprocal tariffs\u201d in April, the US president paused them for 90 days to negotiate individual agreements.<\/p>\n
As well as targeting the EU last week, Trump also threatened to bring 25 percent tariffs against Japan and South Korea, 30 percent tariffs against Mexico, and 35 percent tariffs against Canada.<\/p>\n","protected":false},"excerpt":{"rendered":"The 27-member bloc says Washington\u2019s latest threats against its exports are \u2018absolutely unacceptable\u2019. The European Union has promised…\n","protected":false},"author":2,"featured_media":266005,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[12633,32,1700,299,3058,12,285,49,26],"class_list":{"0":"post-266004","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world","8":"tag-business-and-economy","9":"tag-donald-trump","10":"tag-economy","11":"tag-europe","12":"tag-international-trade","13":"tag-news","14":"tag-politics","15":"tag-united-states","16":"tag-world"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114855366030216422","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/266004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=266004"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/266004\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/266005"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=266004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=266004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=266004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}