Italy’s foreign minister said the EU is ready to hit back with €21 billion ($24.5 billion) in tariffs unless a deal is struck with the U.S., warning that President Donald Trump’s 1 August tariff move could harm both economies and derail ongoing trade talks.
Italian Foreign Minister Antonio Tajani said Monday that the European Union has prepared a list of tariffs worth €21 billion ($24.5 billion) in response to Trump’s plan to impose 30% tariffs on imports from the EU and Mexico starting 1 August.
Speaking to Il Messaggero, Tajani stated, “A list of European tariffs worth €21 billion is ready, and a second could be added. I'm confident there will be progress. Tariffs harm everyone, starting with the United States.”
Tajani warned that a potential downturn in U.S. stock markets due to trade tensions could put American pensions and savings at risk. He reiterated that the EU’s long-term objective is to eliminate tariffs altogether.
“My mantra is to achieve double zero: no tariffs between Europe and the United States. I realize it's not easy, but it's the only way to grow our economies together,” he said.
He urged Europe to negotiate calmly but firmly. “Europe needs America, and vice versa. It’s in everyone’s interest to avoid a trade war,” said Tajani.
The U.S. tariff announcement, made by Trump on Saturday, puts ongoing trade negotiations with the EU at risk. Brussels had aimed to finalise a comprehensive trade deal by the end of July.
Trump confirmed the tariff plan via Truth Social, posting letters addressed to European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum.
Von der Leyen responded by expressing readiness to reach a deal with Washington before 1 August, while also preparing proportionate countermeasures to protect EU interests if talks fail.
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Italian Prime Minister Giorgia Meloni said on Saturday (17 January) that concerns over security in Greenland should be addressed within the framework of NATO, describing a ground military intervention as highly unlikely.
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The European Union and South American bloc Mercosur have signed a long-awaited free trade agreement in Paraguay, opening the way for what would become the EU’s largest-ever trade deal.
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The Turkish Defence Ministry has voiced its support for recent military operations by Syrian government forces against the Kurdish-led Syrian Democratic Forces (SDF), which enjoy the support of the United States.
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Armenia has reaffirmed that it has no intention of taking any actions directed against Iran, with senior officials stressing that relations with Tehran remain friendly and constructive.
Russian President Vladimir Putin held separate calls with Israeli Prime Minister Benjamin Netanyahu and Iranian President Masoud Pezeshkian on 16 January, offering Russia’s help to mediate tensions and promote dialogue in the Middle East.
Italian Prime Minister Giorgia Meloni said on Saturday (17 January) that concerns over security in Greenland should be addressed within the framework of NATO, describing a ground military intervention as highly unlikely.
The European Union has called an emergency meeting of its ambassadors after U.S. President Donald Trump vowed to impose escalating tariffs on European allies unless the United States is allowed to buy Greenland.
The European Union and South American bloc Mercosur have signed a long-awaited free trade agreement in Paraguay, opening the way for what would become the EU’s largest-ever trade deal.
Israel said on Saturday that the Trump administration’s announcement on the composition of a new Gaza executive board was made without coordination and contradicts Israeli government policy.
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