Europe

Europe

EU is ready to hit US with €21bn tariff list, Italy foreign minister says

14 July 2025 10:39 (UTC +04:00)

The European Union has already prepared a list of tariffs worth 21 billion euros ($24.52 billion) on U.S. goods if the two countries fail to reach a trade deal, Italy's Foreign Minister Antonio Tajani said in an interview with Irish Independent, APA reports.

U.S. President Donald Trump on Saturday threatened to impose a 30pc tariff on imports from Mexico and the EU starting on August 1, after weeks of negotiations with major U.S. trading partners failed to reach a comprehensive deal.

Tajani also told daily Il Messaggero that to help the euro zone economy the European Central Bank should consider a new "quantitative easing" bond-buying-programme, and more interest rate cuts.

Speaking yesterday, Transport Minister Darragh O’Brien said the Irish Government hopes US president Donald Trump’s announcement of a 30pc tariff on the European Union will not lead to a trade war.

On Saturday, Mr Trump shared statements on his Truth Social platform outlining 30pc tariffs on imports to the US from the EU and Mexico from August 1, separate to sector-specific tariffs, despite months of intensive talks.