EU-US Tariff Tensions: Trade Deal Hangs in Balance

The European Union has accused the United States of resisting efforts to secure a trade deal, raising tensions over impending tariffs announced by President Donald Trump. With threats of a 30% tariff looming over EU and Mexican imports, EU officials have warned of possible retaliatory measures if negotiations remain stagnant.

EU ministers expressed frustration at a recent Brussels meeting, emphasizing the need for a trade agreement with the U.S. Danish Foreign Minister Lars Lokke Rasmussen deemed the tariff threat "absolutely unacceptable," while EU Trade Chief Maros Sefcovic noted the potential for continued negotiations despite the lack of progress.

European industries are bracing for the impact. German officials have highlighted serious threats to their export industry, calling for swift action. In response, producers across Europe are seeking alternative markets. Globally, countries face the pressure of striking new trade deals as the August 1 deadline approaches.