The EU is preparing to retaliate against the US for threatening Trump duties

** The European Commission is preparing retaliatory measures against the US in consequence to president Donald Trump's threats to introduce 30% customs duties on EU imports. Brussels has modified the list of US products worth EUR 95 billion which may be subject to retortion. These included airplanes, cars, whisky and wine.**

Mr Maroš Šefčovič, Commissioner for Trade, stressed at a conference in Brussels that the EU must be prepared for all possible scenarios. He announced thoughtful and proportionate measures to reconstruct balance in transatlantic relations, if necessary.

At the same time, the Commissioner felt that there was inactive a possible to proceed negotiations with Washington. He stressed that Brussels acted in good religion and constructively, but that it would gotta take corrective measures in the event of a failure of talks with the US.

Denmark warns against Trump duties

Lars Lokke Rasmussen, Danish abroad Minister, who presided over the gathering of EU Trade Ministers, called Trump's threats “absolutely unacceptable”. Denmark took over the EU Presidency from Poland on 1 July.

The Minister stressed that the future trade agreement with the US must be mutually beneficial under conditions acceptable to both parties. He ensured a strong sense of unity among EU associate States in the face of American threats.

Trump threatens further tariff increases

U.S. president Donald Trump posted a letter on the fact Social platform to the head of the European Commission Ursuli von der Leyen on Saturday. It announced the introduction of 30% tariff on imports from the EU and threatened further increases in the event of a recurrence from the Union.

Von der Leyen replied with a message informing that the proposed US tariffs would “disturb key transatlantic supply chains”. She stressed that businesses, consumers and patients on both sides of the Atlantic would endure damage.

EU extends suspension of its own duties

On Sunday, the president of the European Commission announced an extension of the suspension of retaliation measures against the US until early August. Originally, 25% duties on US goods worth €21 billion were to enter into force on the night of Monday for Tuesday.

The list of products subject to possible duties includes agricultural products specified as poultry, fruit, nuts and soya, as well as motorcycles and yachts. These measures were announced in April in consequence to US tariffs on steel and aluminium.

Broader EU trade plans

Ministers besides discussed the EU trade strategy towards another partners at a gathering in Brussels. Šefčovič announced a political agreement with Indonesia and advancement in negotiations with Thailand, the Philippines, Malaysia and India.

In the context of relations with China, the Commissioner stressed that Brussels is pushing for sustainable marketplace access. The EU besides calls for solutions to the issue of export restrictions on rare-earth elements to be discussed at the forthcoming EU-China Summit.

Šefčovič called for a system-wide simplification in the time between the conclusion and implementation of trade agreements, which is presently on average 22 months. He stressed that it was besides long and companies lost access to the markets despite the agreements already concluded.

From Brussels Łukasz Osiński (PAP) Note: This article was edited with Artificial Intelligence.