US President Donald Trump announced on Saturday, July 12, the taxation of customs duties of 30% for the European Union on August 1, on Saturday, July 1. Until then, Brussels says he is ready to continue negotiations for an agreement and leaves the threat of a response.
Donald Trump announced this Saturday, July 12, the next taxation of customs duties by 30% the European Union, again climbing trade tensions.
These customs duties will come into force on August 1, the American president said in a letter addressed to Ursula von der Leyen, the president of the European Commission, which he published on his social social platform.
The commission, which is responsible for negotiating a trade agreement with Washington on behalf of the Member States, reacted quickly. In a statement, she said he was ready “to continue working for an agreement by August 1”.
“The EU has always given priority to a solution negotiated with the United States, thus reflecting its commitment to dialogue, stability and a constructive transatlantic partnership,” she insists.
“At the same time, we will take all the necessary measures to preserve the interests of the EU, including the adoption of proportionate countermeasures if necessary,” added the European Commission.
Possible rispost
“We will have to retaliate and rebalance certain key sectors if the United States emphasizes an asymmetrical agreement,” said European Industry Commissioner Stéphane, in the end of June.
A first list of retaliatory rights to American products worth around 21 billion euros has been planned. These taxes are currently suspended until July 14. European officials did not take any measures to extend this suspension but they could do it quickly if necessary.
According to Bloomberg, the EU has prepared another list of American products that can be the subject of additional customs duties.
Brussels estimates that imposing “customs duties of 30 % on EU exports would disrupt essential transatlantic supply chains, to the detriment of companies and consumers on both sides of the Atlantic”.
A meeting in Brussels Sunday
The Commission would like to recall that “few savings in the world are reaching the level of opening and respecting fair trade practices of the European Union”.
An EU spokesperson said Brussels had been informed of this decision before Donald Trump published the letters online.
Diplomats said that an unscheduled meeting of ambassadors from the 27 EU countries had been summoned to Brussels for Sunday afternoon to discuss Mr. Trump’s latest initiative.
The presidency of the Italian council said that Giorgia Meloni was “confident” in the ability of both parties to conclude a “fair” agreement by August 1, and called to focus on these negotiations by avoiding any additional polarization.
German industry is worried
For its part, German industry has called on the EU and the United States to “quickly find solutions and avoid climbing” after Trump’s threats to impose 30% customs duties on August 1 on European products.
“The announcement of President Trump is an alarm signal for the industry on both sides of the Atlantic,” said the German Industry Federation (BDI), reacting to the letter of the American leader published on his Truth Social platform in a press release.
Germany is on the front line of the repercussions of the American commercial offensive because its economy is very dependent on exports to the United States, especially in the chemical, pharmaceutical, automotive, steel industry and the manufacture of machine tools.
