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.
U.S. negotiators Steve Witkoff and Jared Kushner have arrived in Moscow for peace talks on the Russia-Ukraine conflict, two people familiar wi...
An Iranian tanker was hit by U.S. forces on Saturday near Iran's key oil export hub, Kharg Island, in the Gulf...
Spanish authorities are preparing a new site in Ceuta to accommodate hundreds of migrants who remain on the str...
U.S. negotiators Steve Witkoff and Jared Kushner will visit Russia then Ukraine over the weekend, Russian state news agency TASS has reported, citing an unnamed source. Ukrainian President Volodymyr Zelenskyy has also said American envoys will visit the capitals of both countries.
U.S. negotiators Steve Witkoff and Jared Kushner have arrived in Moscow for peace talks on the Russia-Ukraine conflict, two people familiar with the matter said. They were met by Russian Presidential Envoy Kirill Dmitriev.
U.S. efforts to squeeze Iran’s economy through an oil blockade and sanctions are becoming increasingly difficult for Tehran to withstand, according to three senior Iranian sources. Washington is escalating pressure in hopes of securing concessions in future negotiations.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 4th of September, covering the latest developments.
Two people have been rescued alive from a tunnel in Nepal, nine days after catastrophic floods devastated the country, as rescuers continue searching for survivors.
A Chinese national was pulled alive from a tunnel in Nepal on Saturday, authorities said, 10 days after a wall of ice, rock and mud tore through a Himalayan valley, killing more than 1,300 people and leaving more than 5,600 missing.
U.S. negotiators Steve Witkoff and Jared Kushner have arrived in Moscow for peace talks on the Russia-Ukraine conflict, two people familiar with the matter said. They were met by Russian Presidential Envoy Kirill Dmitriev.
Spanish authorities are preparing a new site in Ceuta to accommodate hundreds of migrants who remain on the streets following large-scale arrivals in July, local media reported Saturday.
At least two people were killed and dozens injured on Friday after an explosion at a military barracks in the Bolivian municipality of Viacha, about 30 km (20 miles) from La Paz, Defence Minister Ernesto Justiniano said.
The resolution, sponsored by African countries and led by Togo, passed by 164 votes to one, with six abstentions. The United States was the only country to vote against it.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment