Foreign Minister Maxime Prévot expressed his dismay on Saturday, warning that escalating tariffs could lead to a “lose-lose situation” after US President Donald Trump announced a 30% tariff on imports from the European Union, effective from 1 August.
Mr Prévot described the US’s commercial aggression towards its European allies as unjustified, creating uncertainty, insecurity, and fragility— exactly what investors fear most.
He called for intense negotiations to continue until 1 August, under the guidance of the European Commission, to return to a mutually beneficial partnership rather than engage in a futile confrontation.
Donald Trump announced on Saturday the imposition of 30% tariffs on the European Union, starting on 1 August.
The US President justified the decision by pointing to a trade imbalance with the EU. According to figures from the office of the US Trade Representative, the United States recorded a trade deficit of $236 billion with the EU in 2024, a 13% increase year-on-year, as the EU exported $606 billion worth of goods to the world’s largest economy.
The President of the European Commission, Ursula von der Leyen, swiftly criticised the American president’s initiative.
She stated on X that imposing 30% tariffs on EU exports would disrupt essential transatlantic supply chains, harming businesses, consumers, and patients on both sides of the Atlantic. However, she added that the EU remained ready to continue negotiations.
A 30% tariff on EU exports would hurt businesses, consumers and patients on both sides of the Atlantic. We will continue working towards an agreement by August 1. At the same time, we are ready to safeguard EU interests on the basis of proportionate countermeasures.
— Ursula von der Leyen (@vonderleyen) July 12, 2025
