The 27-person bloc says the latest threat to Washington’s exports is “absolutely unacceptable.”
The European Union has pledged to take measures against the US if US President Donald Trump introduces 30% tariffs starting next month.
After meeting ministers in Brussels on Monday to discuss the tariff threat issued by Trump over the weekend, EU trade representative Maros Sevkovic said such a move by Washington was “absolutely unacceptable.”
Sefcovic said the 27-national bloc, the largest business partner in the United States, wanted to reach an agreement through negotiations.
“We are confident that the negotiated solution is far superior to the tensions we may have after August 1,” he told reporters in Belgium, adding that “we have to prepare for all the outcomes.”
Lars Lokke Rasmussen, Danish Foreign Minister who currently holds the EU presidency, reinforced the same message.
“The EU remained ready for a response, and included robust and proportional measures when necessary, and there was strong emotion in the room of unity,” he said.
As part of its preparations, Italian Foreign Minister Antonio Tajani confirmed that the EU has created a plan to target US goods worth $24.5 billion.
Trump’s latest trade war escalation is wary of European politicians and businesses operating in Europe.
German Prime Minister Friedrich Merz said such high US obligations “attack the German export industry at its core.”
Meanwhile, the US Chamber of Commerce to the European Union, a group representing the EU’s major US companies, said Trump’s plan “can produce a damaging ripple effect across all sectors of the EU and the US economy.”
Amidst uncertainty, European stocks fell on Monday, with car and alcohol stocks among the worst affected.
Speaking from the White House oval office on Monday, Trump said he is still willing to speak with trading partners, including the EU, as he aims to boost the US economy and stimulate domestic manufacturing.
After targeting dozens of countries with so-called “mutual tariffs” in April, the US president suspended them for 90 days to negotiate individual contracts.
In addition to targeting the EU last week, Trump also threatened to bring 25% tariffs on Japan and South Korea, 30% tariffs on Mexico and 35% tariffs on Canada.
