European Official: The EU should promptly establish countermeasures on Monday

July 13th, the Chair of the European Parliament's Committee on International Trade, Bernd Lange, stated that the EU should promptly adopt countermeasures on Monday. He said, "Trump's tariffs on the EU are a slap in the face to negotiations. This is not the way to deal with an important trading partner." (FXStreet)

Earlier, the President of the European Commission, Ursula von der Leyen, made a statement noting the letter from US President Trump outlining revised tariff rates and a new schedule. The statement indicated that a 30% tariff on EU exports to the US would disrupt vital transatlantic supply chains, harming the interests of businesses, consumers, and patients on both sides.

Globally, few economies can match the EU in terms of openness and adherence to fair trade rules. The EU has always been committed to resolving differences with the US through negotiation. The EU remains prepared to continue efforts to reach an agreement by August 1st.