Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Trump’s tariff threat would ‘cripple’ transatlantic trade, says EU negotiator as Brussels readies €72bn retaliation

by July 15, 2025
July 15, 2025
Trump’s tariff threat would ‘cripple’ transatlantic trade, says EU negotiator as Brussels readies €72bn retaliation

President Donald Trump’s latest threat to impose 30% tariffs on European Union imports could render normal US-EU trade relations “almost impossible”, the bloc’s chief negotiator has warned, as Brussels prepares a €72 billion retaliatory package.

Speaking after talks with EU trade ministers in Brussels, Maros Sefcovic said the sweeping tariffs—set to take effect on 1 August unless a deal is reached—would have a devastating impact on supply chains and key industries across Europe and the US.

“If you’re talking about 30 per cent or more, there will be a huge impact on trade,” Sefcovic told reporters. “Transatlantic supply chains would be heavily affected. It will be almost impossible to continue trading as we are used to in a transatlantic relationship.”

The warning comes after Trump stunned European leaders at the weekend by escalating his tariff proposal from 10%—floated in April—to a much steeper 30%. The announcement derailed what negotiators believed were near-final talks.

In response, the European Commission has dusted off a suspended €21 billion package of countermeasures and is now drafting a significantly larger €72 billion plan, which is expected to be held in reserve unless the US follows through with its threat.

Sefcovic signalled that retaliation would be inevitable.

“At that level, any additional counter-reaction from the United States has more or less the same effect. Practically, it prohibits trade,” he said.

“The EU never walks away without a genuine effort… but it takes two hands to clap.”

The draft retaliation package—dubbed a “rebalancing” mechanism—will be circulated to EU capitals for approval over the coming days, as Brussels continues negotiations with Washington.

Germany and Italy have pushed for a diplomatic resolution, with Chancellor Friedrich Merz and Prime Minister Giorgia Meloni urging that a deal be struck. France, meanwhile, has called for a tougher approach, with Trade Minister Laurent Saint-Martin demanding that the EU prepare “anti-coercion” tools targeting US services and tech firms.

“This balance of power desired by Donald Trump is a balance in which you must show your ability to fight back,” said Saint-Martin. “We need to accelerate.”

Markets across Europe responded nervously to the threat. The Dax index in Germany—home to some of the EU’s largest exporters—fell 0.4% to 24,160.64, dragged down by carmakers Volkswagen, Porsche, Mercedes-Benz, and BMW. France’s CAC 40 index also dipped 0.3% to 7,808.17.

The German Chamber of Commerce and Industry has warned that the tariffs could slash German exports to the US by €1 billion per month. Denmark’s foreign affairs minister, Lars Lokke Rasmussen, underscored the mood of preparedness:

“If you want peace, you have to prepare for war. And I think that’s where we are.”

With just weeks left until the 1 August deadline, the EU is working to find a resolution—but as rhetoric escalates on both sides, the prospect of a damaging transatlantic trade war is looking increasingly difficult to avoid.

Read more:
Trump’s tariff threat would ‘cripple’ transatlantic trade, says EU negotiator as Brussels readies €72bn retaliation

0
FacebookTwitterGoogle +Pinterest
previous post
Hawley urges DHS Secretary Noem to declassify all Trump Butler rally assassination attempt documents
next post
Bitcoin hits new high as Trump’s ‘crypto week’ kicks off

You may also like

Mastercard strikes deal with Binance to launch crypto...

August 25, 2022

Scaling Smart: How UK SMEs Can Grow Without...

July 14, 2025

Eco-Friendly Skiwear Brand, OOSC Clothing, Embarks on Global...

February 29, 2024

How Social Media Transforms Online Shopping in 2025

January 27, 2025

Younger Londoners lead the return to the office

September 3, 2024

Liberis launches Cashback for Green – a funding...

June 28, 2023

Secrets of Success’: Jennifer Davidson, founder, Sleek

September 24, 2024

Ex-England Footballer Emile Heskey Ordered to Pay £200k...

June 4, 2024

Companies more confident on hiring, says Recruitment and...

July 26, 2023

6 Essentials Startups Need To Survive in 2024

November 2, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • What Is SameAgeDates? A Closer Look at Presence‑Driven Dating

      August 4, 2025
    • Cryptocurrency Trading: Five Strategies to Strengthen Your Position as a Reputable Broker

      August 4, 2025
    • UAE’s World’s Safest Country Ranking Creates ‘Safety Premium’ in Real Estate Market

      August 4, 2025
    • GOP memo preps House Republicans to tout Trump’s ‘big, beautiful bill’ as Dems go on offense

      August 4, 2025
    • Cornyn takes swing at James, Schiff with new LETITIA Act targeting ‘crooked politicians’

      August 4, 2025
    • Trump confirms 2 nuclear submarines are ‘in the region’ to counter Russia

      August 4, 2025

    Categories

    • Business (8,661)
    • Investing (2,170)
    • Politics (16,296)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved