Trade tensions between the EU and the US are reaching boiling point 🔥, with Germany’s Finance Minister Lars Klingbeil urging Europe to prepare countermeasures if talks fail to resolve a tariff standoff. The warning comes after former US President Donald Trump threatened 30% tariffs on EU goods starting August 1, escalating a months-long trade dispute.
💼 "If negotiations fail, we must act decisively to protect European jobs," Klingbeil told German media, emphasizing unity among EU members. The bloc has extended its suspension of retaliatory tariffs until early August but is readying backup plans.
European Commission President Ursula von der Leyen stressed a preference for diplomacy 🤝: "We’re extending the negotiation window, but preparing for all scenarios." Meanwhile, German lawmakers remain divided—some demand immediate counter-tariffs, while others predict a last-minute deal to avoid economic fallout.
Trump’s tariff threats, first introduced in April, have already rattled global markets. Critics argue higher US tariffs could backfire, raising prices for American consumers and fueling inflation 📈. As the clock ticks toward August, all eyes are on whether cooler heads—or trade wars—will prevail.
