EU-US Trade Talks: Navigating Tariffs and Tensions

The European Union is striving to finalize a beneficial trade agreement with the United States by August 1, EU trade commissioner Maros Sefcovic announced on Monday. While prioritizing negotiation, the EU is simultaneously preparing for possible counteractions if discussions fall through.

President Donald Trump has declared the imposition of a 30% tariff on most European imports starting August 1. However, there's still time to settle on lower tariffs if both parties can reach an agreement. Commission President Ursula von der Leyen has warned that these tariffs could disrupt vital transatlantic supply chains, affecting businesses and consumers alike.

In the meantime, the EU intends to suspend countermeasures until early August in hopes of prioritizing diplomacy. Danish Foreign Minister Lars Lokke Rasmussen echoed this sentiment but stressed the need to be prepared for counteractions, stating, "If you want peace, you have to prepare for war."

(With inputs from agencies.)