EU's Bold Tariff Threat in U.S. Trade Row
The EU has prepared tariffs worth €21 billion on U.S. goods if trade negotiations fail. U.S. President Trump threatened a 30% tariff on imports from the EU and Mexico. EU leaders urge a negotiated settlement, with possible extended tariffs if no agreement is reached. Italian Foreign Minister Antonio Tajani and German Chancellor Friedrich Merz are key figures in ongoing efforts.
The European Union has developed a €21 billion tariff strategy against U.S. goods as a response to failed trade negotiations, Italian Foreign Minister Antonio Tajani revealed. This move underscores the rising tensions in transatlantic trade discussions.
U.S. President Donald Trump amplified the dispute by threatening a substantial 30% tariff on EU and Mexican imports, emphasizing the need for economic concessions. Tajani advocates for another 'quantitative easing' program by the European Central Bank to stabilize the eurozone economy.
Despite the friction, German Chancellor Friedrich Merz is committed to collaboration with France and the European Commission to de-escalate the conflict. Both sides express willingness for zero tariffs and a unified market across major Western economies.
(With inputs from agencies.)
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