EU ministers pledged on Monday to accelerate trade negotiations with Washington as President Trump’s looming 30% tariffs threaten to upend transatlantic commerce.
European Union ministers have agreed to prioritise negotiations with the United States to prevent sweeping 30% import tariffs announced by President Donald Trump, warning that such measures would have devastating consequences for EU-U.S. trade.
European Trade Commissioner Maros Sefcovic described the new tariff threat as a serious turning point in negotiations. “A 30% tariff rate would make it almost impossible to continue trading as before,” he said ahead of a ministerial meeting in Brussels. “We must do everything we can to avoid this super-negative scenario.”
While Trump has set August 1 as the deadline for imposing the tariffs, EU diplomats believe there is still time to reach a deal. The European Commission has proposed suspending its first package of counter-tariffs worth €21 billion and is considering a second package targeting €72 billion in U.S. goods.
However, officials remain divided on the bloc’s response. Danish Foreign Minister Lars Lokke Rasmussen urged unity but stressed the EU must be ready for all outcomes: “If you want peace, you have to prepare for war.”
France has taken a tougher stance, with Trade Minister Laurent Saint-Martin calling for broader retaliation. He urged the EU to consider targeting U.S. services or invoking its "anti-coercion" tool, designed to counter external economic pressure.
Despite signs that U.S. negotiators remain open to compromise, Sefcovic warned the EU must brace for “all possible scenarios,” signalling turbulent weeks ahead for transatlantic trade.
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Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Canada has announced nearly $20 billion in retaliatory tariffs on U.S. goods and billions in support for workers and businesses, escalating its trade dispute with Washington after President Donald Trump's latest duties took effect.
Pakistani exporters are facing soaring shipping costs to the U.S., with freight rates more than tripling on some routes as the Iran-U.S. conflict drives up war-risk insurance and fuel costs.
The trial of a Libyan man accused of building the bomb that destroyed Pan Am Flight 103 over the Scottish town of Lockerbie in 1988, killing 270 people, has been postponed by a U.S. federal judge.
France and Saudi Arabia have agreed on plans for a $7 billion manga-themed amusement complex near Paris, inspired by the hugely popular Japanese franchise Dragon Ball Z.
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