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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Russia announced on Sunday that its forces had made significant advances in Ukraine’s southeastern Zaporizhzhia region, capturing two settlements as part of a broader offensive aimed at seizing full control of the area.
Türkiye has proposed jointly leading next year’s U.N. climate summit, COP31, alongside Australia in an effort to resolve a long-running standoff over who will host the event, Turkish diplomatic sources have confirmed.
Uzbek President Shavkat Mirziyoyev on Sunday proposed creating a new regional co-operation body, which he called the “Community of Central Asia”, aimed at strengthening economic integration across the region’s more than 80 million people.
Israeli Prime Minister Benjamin Netanyahu has reiterated his firm opposition to the establishment of a Palestinian state, saying his position has “not changed one bit” despite growing international pressure.
Storm Claudia, which brought violent weather to Portugal, has resulted in the deaths of three people and left dozens injured, authorities reported on Saturday. Meanwhile, in Britain, rescue teams were organising evacuations due to heavy flooding in Wales and England.
Japan urged China on Saturday to take "appropriate measures" after Beijing issued a warning to its citizens against travelling to Japan, amid an ongoing dispute over Taiwan.
U.S. President Donald Trump purchased at least $82 million in corporate and municipal bonds between late August and early October, including new investments in sectors benefiting from his policies, according to financial disclosures made public on Saturday.
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U.S. Secretary of State Marco Rubio stressed the importance of securing a humanitarian ceasefire in Sudan during a call on Friday with United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed.
Russia announced on Sunday that its forces had made significant advances in Ukraine’s southeastern Zaporizhzhia region, capturing two settlements as part of a broader offensive aimed at seizing full control of the area.
Türkiye has proposed jointly leading next year’s U.N. climate summit, COP31, alongside Australia in an effort to resolve a long-running standoff over who will host the event, Turkish diplomatic sources have confirmed.
Uzbek President Shavkat Mirziyoyev on Sunday proposed creating a new regional co-operation body, which he called the “Community of Central Asia”, aimed at strengthening economic integration across the region’s more than 80 million people.
Israeli Prime Minister Benjamin Netanyahu has reiterated his firm opposition to the establishment of a Palestinian state, saying his position has “not changed one bit” despite growing international pressure.
Thousands of people across Mexico took to the streets on Saturday under the rallying cry of “Generation Z,” demanding an end to rising violence and expressing outrage over the killing of Uruapan Mayor Carlos Manzo earlier this month.
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