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Rajoni dhe Bota2025-07-14 15:31:18

EU ready to impose tariffs on US if no deal is reached

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EU ready to impose tariffs on US if no deal is reached

The European Union has prepared a list of tariffs - worth 21 billion euros - on American goods if the two sides fail to reach a trade deal, Italian Foreign Minister Antonio Tajani said.

US President Donald Trump warned on Saturday that he would impose 30% tariffs on imports from Mexico and the European Union, starting August 1, after weeks of negotiations with the US's main trading partners failed to produce an agreement.

Speaking to the newspaper Il Messaggero, Tajani also said that, to help the Eurozone economy, the European Central Bank should consider a new bond-buying program and new interest rate cuts.

The European Union said on Sunday it would postpone taking retaliatory measures against the US until early August, in the hope that a deal can be reached through negotiations.

Tajani said that the 21 billion euro tariff package that the EU has prepared could be followed by a second round of measures if there is no agreement with the US.

However, he said he believes there can be progress in the negotiations.

"Tariffs hurt everyone, starting with the United States," Tajani said.

"If stock markets fall, that would put Americans' pensions and savings at risk," he added.

According to him, the goal should be "zero tariffs" and an open market between Canada, the United States, Mexico and Europe.

German Chancellor Friedrich Merz said on Sunday that he would work intensively with French President Emmanuel Macron and European Commission President Ursula von der Leyen to resolve the trade conflict with the United States.

Such conflict occurs when two or more countries impose tariffs or other trade barriers on goods and services imported from each other, to protect domestic products or to gain economic advantage./ REL

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