U.S. tariffs on the European Union have raised concerns for both economies. The European nations' trade ministers are convening in Brussels amid this uncertainty. Denmark's foreign minister emphasizes readiness for countermeasures if negotiations fail, although they currently seek a deal. Tariffs starting August 1st threaten to raise prices on a range of goods. Brussels opted to delay retaliatory tariffs in hopes of a favorable negotiation with the Trump administration before the deadline. The EU aims to continue negotiations and avoid escalating tensions post-tariff implementation.
"We shouldn't impose countermeasures at this stage, but we should prepare to be ready to use all the tools in the toolbox," said Denmark's foreign minister, Lars Løkke Rasmussen.
The tariffs, imposed on the EU and Mexico, are set to start on Aug. 1 and could make everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals more expensive in the U.S.
Brussels decided to suspend retaliatory tariffs on U.S. goods scheduled to take effect Monday in hopes of reaching a trade deal with the Trump administration by the end of the month.
Maroš Šefčovič, the EU's trade representative, said negotiations would continue, stressing that a negotiated solution is much better than the tension which we may have after the 1st of August.
Collection
[
|
...
]