The European Union has readied a set of retaliatory tariffs totaling 21 billion euros ($24.5 billion) on U.S. goods, officials warned on Monday.
Italy’s Foreign Minister and Deputy Prime Minister Antonio Tajani stated in an interview with Il Messaggero that the EU remains open to negotiations and is intent on avoiding a trade war with the U.S, but will respond with these substantial tariffs if a deal with the U.S. fails to materialize.
The threat comes after President Donald Trump announced a new 30 percent tariff on Mexican and E.U. imports, set to take effect on August 1.
Newsweek has reached out to the White House for comment outside of regular hours.
Why It Matters
The reescalation of trans-Atlantic trade tensions follows weeks of stalled negotiations and the pair trading threats of even higher duties. While European leaders have confirmed they will delay countermeasures until early August to allow for open and amicable dialogue, these and the tariffs that motivated them threaten the nearly $1 trillion in bilateral trade between the EU and U.S.
The higher tariffs and potential retaliation also pose a risk to global supply chains, particularly for industries such as automobiles, pharmaceuticals and agriculture, and could lead to higher consumer prices on both sides of the Atlantic.
What To Know
On Saturday, President Trump announced his intention to impose 30 percent tariffs on all imports from the EU and Mexico. For the former, Trump cited persistent trade deficits—the E.U. posted a trade surplus of $235.6 billion with the U.S. last year—and said that this posed “a major threat to our Economy and, indeed, our National Security.”
European leaders expressed frustration with the announcement, with Bernd Lange, chair of the European Parliament’s committee on international trade calling it “a slap in the face.” Officials also expressed their desire to work toward an agreement with the U.S, but stressed that firm countermeasures would be necessary should such negotiations fail.
“We remain ready to continue working toward an agreement by August 1,” said European Commission President Ursula von der Leyen. “At the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required.”
In pursuit of the former, von der Leyen announced that the EU would suspend previous retaliatory countermeasures against existing U.S. tariffs on steel and aluminum imports, which were set to come into effect on Tuesday.
Italy’s foreign minister said that the best path forward for both the U.S. and EU is zero tariffs and “an open market between Canada, the United States, Mexico and Europe.” He added that, in addition to the $24.5 billion duties prepared in response to the tariff threats, a second package of countermeasures “could be added.”
However, in the letter sent to the EU, shared on Truth Social, Trump warned: “If for any reason you decide to raise your Tariffs and retaliate, then, whatever the number you choose to raise them by will be added onto the 30% that we charge.”
To insulate the bloc’s economies from Trump’s tariffs, should these take effect, Tajani also called for the European Central Bank to pursue a quantitative easing, bond-buying program like the one undertaken during the COVID pandemic, though he acknowledged many European leaders are currently against this proposal.
What People Are Saying
Antonio Tajani, Italian Foreign Minister, told Il Messaggero on July 14, 2025: “A list of European duties worth 21 billion euros is ready, to which a second could be added. I am confident that there will be progress.”
“The tariffs hurt everyone, starting with the United States,” he added. “If the stock markets go down, Americans’ pensions and savings are at risk. I repeat: our goal, in perspective, is zero duties. An open market between Canada, the United States, Mexico and Europe.”
Ursula von der Leyen, European Commission President, in a statement released Saturday, said: “Imposing 30 percent tariffs on EU exports would disrupt essential trans-Atlantic supply chains, to the detriment of businesses, consumers and patients on both sides of the Atlantic.”
French President Emmanuel Macron, via X, said: “[Trump’s] announcement comes after weeks of intense engagement by the Commission in negotiations with the United States, on the basis of a solid offer made in good faith.
“With European unity, it is more than ever up to the Commission to assert the Union’s determination to resolutely defend European interests. In particular, this implies speeding up the preparation of credible countermeasures, by mobilizing all the instruments at its disposal, including anti-coercion, if no agreement is reached by August 1st.”
Macron added that negotiations will now “intensify,” to secure “a mutually acceptable agreement by August 1st.”
What Happens Next?
The pause placed on countermeasures by the E.U, and only two weeks until Trump’s latest duties come into effect, both sides have a narrow window to negotiate a compromise and avoid a major escalation in the trade war.
Tajani told Il Messaggero that, rather than a fully fledged trade deal, the two sides could feasibly secure an in-principle agreement which would delay tariffs and countermeasures, and provide more time for the remaining details to be finalized.
The EU’s trade ministers are set to meet in Brussels on Monday to formulate a cohesive response to the tariffs, the BBC reports.
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