European Union leaders are rallying to address escalating trade tensions with the United States after President Donald Trump threatened 30% tariffs on EU goods starting August 1. German Finance Minister Lars Klingbeil warned Sunday that Brussels must be prepared to take "decisive countermeasures" if negotiations fail, emphasizing the need to protect European jobs and industries.
Diplomatic Push Amid Rising Tensions
European Commission President Ursula von der Leyen confirmed the bloc extended its suspension of retaliatory tariffs until early August while continuing preparations for potential countermeasures. "We want a fair deal," Klingbeil stated, urging de-escalation as both sides face economic risks from prolonged disputes.
Tariff Timeline and Economic Impact
The latest threat follows Trump's April decision to impose 20% tariffs on EU imports, later reduced to 10% after temporary suspensions. Bernd Lange of the European Parliament's trade committee criticized the approach as "destructive," while CDU/CSU lawmaker Juergen Hardt noted higher U.S. tariffs could fuel inflation for American consumers.
What Comes Next?
With negotiations ongoing, EU officials stress unity in pursuing balanced solutions. As von der Leyen stated: "We remain committed to dialogue but will defend our interests." The outcome could reshape transatlantic trade flows ahead of critical autumn economic forecasts.
