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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The Kremlin on 15 July welcomed U.S. envoy Keith Kellogg’s mediation efforts during his visit to Kyiv and restated its readiness for further direct peace talks, while noting Ukraine has yet to respond.
China and Serbia will hold their first-ever joint military exercise later this month in northern China’s Hebei province to boost combat readiness and deepen defence cooperation, the Chinese Defence Ministry announced Monday.
China’s cabinet on Thursday set fresh rules for its nationwide social-credit system, promising tighter control over personal data and stronger penalties for fraud as it seeks to ease public fears of surveillance.
Clashes between Druze and Bedouin Arab tribes continue in Syria’s southern Sweida province, near the Jordanian border, while six soldiers were killed in an attack by Druze forces on Syrian army units deployed to restore order in the area.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
French member of parliament Olivier Marleix was found dead at his home on Monday, with suicide being considered a possible cause.
The Financial Stability Board (FSB), the G20’s financial regulator, has paused further climate policy work as the United States distances itself from key initiatives.
European Commission Vice President Teresa Ribera called on China and the EU to reaffirm their full commitment to the Paris Agreement during climate talks in Beijing.
China’s overseas shipments grew 5.8 % in June as manufacturers hurried to clear orders before a 12 August deadline that could see steep U.S. duties return, customs figures released on Monday show.
Oil prices hit a three-week high on Monday as rising Chinese imports and expectations of fresh U.S. sanctions on Russia buoyed market sentiment.
EU ministers pledged on Monday to accelerate trade negotiations with Washington as President Trump’s looming 30% tariffs threaten to upend transatlantic commerce.
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