US to hike tariffs on EU goods to 30% starting August 1; EU open to negotiations but warns of countermeasures if needed. Trump cites trade deficit concerns.
The United States plans to increase tariffs on goods imported from the European Union to 30%, effective August 1, according to an official statement. The decision was communicated via a social media post by former President Donald Trump, who emphasized that the measure aims to address trade imbalances.
The European Commission responded by expressing its willingness to engage in further discussions while also preparing to take proportionate countermeasures if necessary. In a formal statement, the Commission affirmed its commitment to protecting EU interests.
Trump indicated that the tariff rate could escalate further if the EU retaliates, describing the initial increase as insufficient to rectify what he termed a "Trade Deficit disparity." He also warned that goods rerouted to circumvent higher tariffs would face additional duties.
"We have spent years negotiating with the European Union, yet the trade relationship remains unbalanced," Trump stated. "Persistent deficits, driven by tariff and non-tariff barriers, necessitate decisive action."
The announcement comes as a temporary suspension of earlier proposed tariffs approaches its expiration date. The move aligns with Trump's broader economic strategy, which prioritizes domestic manufacturing and trade protectionism.
Trump's administration has reportedly notified multiple trading partners of impending tariff adjustments, affecting exports from over two dozen countries in addition to the EU. The policy reflects his long-standing assertion that the U.S. economy has been disadvantaged in global trade agreements.
European officials reiterated their openness to dialogue but stressed that they would not hesitate to defend their economic interests. The situation underscores ongoing tensions in transatlantic trade relations, with both sides preparing for potential negotiations or further escalations.
