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Trump Says Open to Talks as EU Readies €72 Billion Countermeasure Over Threat of 30% U.S. Tariff
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TMTPOST -- U.S.   President Donald Trump on Monday expressed openness to trade talks as the European Union is gearing up   its new batch of countermeasure   over Trump ’ s recent threat   of higher   tariffs.

Credit:China Central Television

Trump insisted the letter   sending to trading partners including the EU   are   "the deals"   but implied he ’ s   open to more trade negotiations. "The letters are the deals. The deals are made. There are no deals to make," Trump   said   at   the White House   on Monday. He   then   added   the   the EU   "would like to do a different kind of deal. We ’ re always open to talk. We are open to talk, including to Europe. In fact, they ’ re coming over. They ’ d like to talk."

Trump on Saturday released his letter   to Ursula von der Leyen, president of the European Commission,   indicating new   tariffs on the EU   exports starting   August 1.   "The United States of America has agreed to continue working with the European Union, despite having one of our largest Trade Deficits with you. Nevertheless, we have decided to move forward, but only with more balanced and fair TRADE,"   Trump wrote in the letter, according to screenshots   he posted on his social media   platform Truth Social.

Trump in the letter blasted the   EU   for its tariff and non-tariff barriers, which he blamed for causing "long-term, large, and persistent Trade Deficits."   "Our relationship has been, unfortunately, far from reciprocal," he wrote. He also sent letter   informing Mexco   of   30% tariffs   starting August   1.   Just like letters   Trump   sent to   leaders of more than 20 countries,   the   president said   the new   tariffs   would separate from sectoral tariffs, warning them not to retaliate, urging them to relocate companies to the United States, and suggesting that the tariff rates could be adjusted if they cooperate.

Von der Leyen on Saturday pledged that the EU would respond with countermeasures if necessary.   "Imposing 30 percent tariffs on EU exports would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers, and patients on both sides of the Atlantic," von der Leyen said in a statement.

Von der Leyen   said the   EU remained ready to   continue working towards an agreement   by August 1, while vowing "all necessary   steps to safeguard EU interests,   including the adoption of proportionate countermeasures if required."

EU   trade minister   agreed on Monday that   Trump ’ s new threat of 30%   tariffs was "absolutely unacceptable"   after a meeting in   Brussels.   The   EU ’ s trade representative and trade chief Maros Sefcovic   said   it was "very obvious from the discussions today, the 30% is absolutely unacceptable."   Danish Foreign Minister Lars Lokke Rasmussen   also condemned   the new tariffs   as "absolutely unacceptable"   during a joint press conference with Sefcovic.

Sefcovic said   the EU wants to   strike   an agreement with the U.S.   though it gets   ready for other   outcomes.   "I ’ m absolutely 100 percent sure that a negotiated solution is much better than the tension which we might have after August 1," he told reporters in Belgium.   But he added the   agreement has to   be mutually acceptable for both   sides and   "we must be prepared for all outcomes, including, if necessary, well-considered proportionate measures to restore balance in our transatlantic relationship."  

The   EU has   been quite   close in agreeing the text on the trade agreement in principle, though   "there   have been   clearly areas where   we have quite   a big gap"   between both   sides, Sefcovic   said.  

Sefcovic also said the European Commission was sharing proposals with the 27 member states for the second list of goods accounting of some € 72 billion euros ( $84 billion ) worth of U.S imports. "They will now have a chance to discuss it. This does not exhaust our toolbox and every instrument remains on the table,"   he   said.

The   EU has finalized a second list of countermeasures to target American   goods worth € 72 billion, or $84 billion, including Boeing Co. aircraft, automobiles,   bourbon,   machinery products, chemicals and plastics, medical devices, electrical equipment, wines and other agricultural goods   if it decides to retaliate   against   new   U.S. tariffs,   Bloomberg   later   Monday   cited a 206-page list prepared by the European Commission.

The EU list, initially hitting U.S. goods totaling € 95 billion, was scaled   down after consultations with companies and member states. It was reported   that   the new   list   of   targeted   US   products   includes   more   than   € 65   billion   of   industrial   goods,   including   mostly   aircraft   ( nearly   € 11   billion ) ,   machinery   ( more   than   € 9.4   billion )   and   cars   ( nearly   € 8   billion ) .   More   than   € 6   billion   of   US   goods   hit   are   agrifood   products,   mostly   fruits   and   vegetables   ( nearly   € 2   billion )   and   alcoholic   drinks   ( € 1.2   billion ) .  

The   broad   package   also   reportedly   includes   precision   equipment   and   instruments   ( nearly   € 5   billion ) ,   toys   and   hobby   equipment   ( more   than   € 500   million ) ,   sports   guns   ( nearly   € 300   million )   or   musical   instruments   ( around   € 200   million ) .

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