The Italian Foreign Minister stated on July 14 (local time) that the European Union (EU) could impose a second round of retaliatory tariffs in addition to those already prepared, should it fail to reach a trade agreement with the United States.
Antonio Tajani, the Italian Foreign Minister, said in an interview published that day with the local daily Il Messaggero, "If it is determined that an agreement with the United States is impossible, a second package of retaliatory tariffs could follow, in addition to the 21 billion euro (approximately 33.9 trillion won) tariff package the EU has already prepared."
After U.S. President Donald Trump announced plans to impose a 30% tariff on the EU starting August 1, the EU decided to postpone its retaliatory tariffs against the U.S.?which were scheduled to take effect automatically on the 14th?until early August. Ursula von der Leyen, President of the European Commission, indicated that negotiations were still possible, stating, "Now is the time to negotiate."
The EU has prepared retaliatory measures centered on imposing an additional 10% or 25% tariff on U.S. products worth 21 billion euros. Separately, a second round of retaliatory measures is also being prepared in response to the U.S. base tariff of 10% and a 25% tariff on automobiles. Local media analyzed that Minister Tajani's remarks suggest the EU is devising a phased response strategy, taking into account the possibility that the trade war with the U.S. could become prolonged.
However, Minister Tajani expressed confidence that there would be progress in negotiations between the EU and the United States. He pointed out, "Tariffs are harmful to everyone, including the United States," and added, "If the stock market falls, Americans' pensions and savings will be at risk." He emphasized that the goal of the negotiations should be 'zero tariffs' and open markets among Canada, the United States, Mexico, and Europe.
Leaders of major EU countries are also directly engaging in efforts to resolve the trade conflict with the United States. Friedrich Merz, the German Chancellor, announced the previous day that he would work intensively to resolve the trade war with the United States, in cooperation with French President Emmanuel Macron and European Commission President Ursula von der Leyen.
Maro? ?ef?ovi?, the EU's chief negotiator and Vice President for Trade, stated that both the U.S. and EU sides are moving toward a positive outcome, and warned that a 30% tariff would effectively halt trade.
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