Trade Showdown: EU Prepares Countermeasures Against US Tariffs
EU trade ministers unanimously condemned US President Trump's 30% tariff on the EU, considering it 'absolutely unacceptable.' They are exploring countermeasures and negotiating a trade deal with the US. Potential repercussions span across multiple sectors in both economies, raising concerns about global economic stability and provoking diplomatic efforts.
- Country:
- Belgium
EU trade ministers have unanimously rejected US President Donald Trump's announcement of a 30% tariff on European Union imports, deeming it 'absolutely unacceptable.' In response, they are exploring countermeasures while engaging in negotiations with the United States to avoid a potential trade conflict.
The ministers convened in Brussels following Trump's surprise announcement. The proposed tariffs would affect a range of European products, potentially disrupting economies on both sides of the Atlantic. The EU, as the world's largest trading bloc and America's principal business partner, is seeking a resolution.
European leaders are discussing countermeasures and advocating unity among member states. European Commission President Ursula von der Leyen emphasized the urgency of negotiations, suggesting that a solution before August 1 is vital. Meanwhile, the EU is pursuing new economic partnerships globally, including with Indonesia and other Pacific nations.
(With inputs from agencies.)
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