The European Union (EU) is accelerating trade negotiations with the U.S. and warning of swift retaliation as President Donald Trump threatens to impose sweeping 50% tariffs on nearly all EU imports by July 9.
Talks are set to resume this week, with EU trade chief Maros Sefcovic scheduled to meet U.S. Trade Representative Jamieson Greer in Paris on Wednesday. Meanwhile, a European Commission delegation is already in Washington for technical discussions, according to Commission Spokesman Olof Gill.
If a mutually acceptable solution is not found, both the existing and any additional EU countermeasures will automatically take effect on July 14 or earlier, if necessary, according to Gill’s statements to reporters in Brussels on Monday.
The warning follows Trump’s announcement to escalate tariffs on EU steel and aluminum imports from 25% to 50%, intensifying a long-simmering transatlantic trade conflict. The European Commission, which manages trade policy for the bloc, said it “strongly” regrets the hike, calling it a blow to ongoing negotiations.
The EU has already approved retaliatory tariffs on €21 billion ($24 billion) worth of U.S. goods, including politically sensitive products such as soybeans, poultry, motorcycles, and other agricultural exports. A second wave of levies is being prepared, targeting €95 billion in American industrial goods, including Boeing aircraft, cars, and bourbon.
While preparing to respond forcefully, the EU maintains its priority is to avoid escalation and reach a balanced deal.
Meanwhile, Trump has criticized the EU’s trade practices, calling for reductions in both the bloc’s trade surplus and its tariff and non-tariff barriers, including value-added taxes. In response, the EU is pushing for a broader agreement that encompasses cooperation in key sectors, such as semiconductors and pharmaceuticals.
Earlier, both sides had agreed to delay implementing tariffs to allow room for a negotiated solution.