The European Union on Monday accused the United States of blocking progress on a trade agreement and warned of countermeasures if no deal is reached before President Donald Trump’s proposed 30% tariffs take effect on August 1.
00:00The European Union on Monday accused the US of resisting efforts to strike a trade deal and warn off-counter measures if no agreement is reached to avoid the punishing tariffs.
00:11President Donald Trump has threatened to impose starting on August 1st.
00:16Trump, meanwhile, said he was open to further discussions with the EU and other trading partners before new 30% tariffs kick in next month and the EU officials would be coming to the United States for negotiations.
00:30Trump stepped up his trade war on Saturday, saying he would impose a 30% tariff on most imports from the EU and Mexico next month, following similar warnings for the other countries, including Asian economic powerhouses in Japan and South Korea.
00:46The EU has so far held off a retaliatory measures to avoid a spiraling tit-for-tat escalation, while there remains a change of negotiating an improved outcome.
00:57But the EU minister emerging from a meeting in Brussels on Monday appeared closer to striking back.
01:04Speaking at a news conference following the meeting, Danish Foreign Minister Lars-Loki Remusen called the tariff threat absolutely unacceptable.
01:12EU Trade Chief Maros Cevkovic said he believed there was still a potential to continue negotiations but voiced frustration with Washington's failure to agree to a deal with its largest trading partner.
01:27Italy's Foreign Minister Antonio Tajani earlier said the EU had already prepared a list of tariffs worth 21 billion euros or US$24.5 billion on US goods if the two sides fail to reach a deal.
01:41Meanwhile, Mexican President Claudia Shebaum said on Monday that she believed the two sides would reach a deal on security ahead of August 1 deadline.
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