Sefcovic (EU): 'We will not abandon negotiations with the US'

Donald Trump said he was always open to talks on tariffs, including the EU, after he sent letters threatening tariffs from 1 August.

"We are always open to talks, we are open to talks, including Europe. In fact they are coming for discussions,' he said.

The EU "never" abandons a negotiation "without a real effort, especially considering the hard work, the proximity to an agreement and the obvious benefits of a negotiated solution. But we must be ready for any outcome. I appreciate the strong support of our member states." This was emphasised by European Trade Commissioner Maros Sefcovic via social media, regarding the trade negotiations with the US.

The negotiations between the EU and the US on tariffs "is not a boxing match". This was said by Agriculture Minister Francesco Lollobrigida on the sidelines of a conference in the European Parliament building in Brussels, responding to the question of whether the EU should not adopt a somewhat stronger position in the face of President Donald Trump. "What we have argued from the outset," he continued, "is that between strategic allies a virtuous compromise point must be found that benefits both. What the entrepreneurs are asking for is this. Moreover,' he observes, 'for a nation like ours, which is a producing nation, but also a processing nation, sometimes the imposition of counter tariffs can penalise the same companies twice. So, it tends not to be the main strategy'. For Lollobrigida, 'it is obvious that the European position must be firm, to protect European interests. The Italian position is totally aligned with the defence of the interests of our entrepreneurs and European businessmen, but also of the friendship with the United States'.

Following US President Donald Trump's announcement of 30% tariffs on Europe from 1 August, Giovanna Ceolini, President of Confindustria Accessori Moda, commented: "There is no official numerical estimate of the overall economic damage, but the first signals gathered among Italian companies in the fashion accessories sector indicate a potentially very serious impact. Exports to the United States, which reached 2.8 billion euros in 2024 (-3.5% compared to 2023), account for about 11.1% of the total exports of the companies represented by Confindustria Accessori Moda, making the American market the second most important after France," he continued. "In particular, footwear (with almost 1.4 billion in exports) and leather goods (1.2 billion) are the two sectors of the Federation with the highest exports to the USA. Our entrepreneurs are concerned, foreseeing a strong impact on company results with quite significant consequences: a picture that suggests that, in the absence of countermeasures, there is a risk of a drastic downsizing of exports and a weakening of international competitiveness, with significant repercussions along the entire production and employment chain. If the US tariffs are confirmed and maintained over time, the foreseeable scenario is that of a further structural crisis for the Italian fashion accessories sector, especially for small and medium-sized enterprises, which are already penalised by tariff barriers and complex access to the American market'.

Zero tariffs between Europe and the United States. This is the goal of Foreign Minister Antonio Tajani, who is flying to Washington today for a mission that will inevitably focus on the risk of a trade war, after the letter sent to the EU by US President Donald Trump, in which he returns to raise the spectre of tariffs if an agreement is not found by August. A few hours before his departure, Tajani - who also holds the delegation for foreign trade - reiterated in an interview with Il Messaggero the need for Europe to "hold its head high" and that "it is in everyone's interest to avoid a trade war". He then welcomed, calling it 'wise', the decision of European Commission President Ursula von der Leyen to postpone the adoption of any countermeasures by Brussels until 1 August, insisting on the importance of 'strong' negotiations with the United States. The agenda of the deputy prime minister's mission is packed, all concentrated on tomorrow. The first meeting will be with Secretary of State Marco Rubio, which will be followed by a stop at the Italian embassy. Other bilaterals are also scheduled: one with Senator Jim Risch, chairman of the Senate Foreign Affairs Committee, and another with Ambassador Jamieson Greer, US Trade Representative. Meetings with members of the Italian business community and the Italian-American community are also planned.

"Tariffs affect 70 per cent of EU exports to the US, amounting to EUR 380 billion. However, the US administration is conducting investigations, particularly in relation to Section 232 of the Trade Expansion Act of 1962, which covers aviation products, pharmaceuticals, critical minerals, timber, copper and other goods. If the Trump administration decided to impose tariffs on these products as well, the share of affected exports would rise to 97 per cent." This was stated by Leopoldo Rubinacci, Deputy Director of the EU Commission's Directorate General for Trade, speaking to the Trade Committee of the EP.

"We must be ready for all outcomes, including, if necessary, well-considered and proportionate measures to restore balance in our transatlantic relationship. Our rebalancing measures on steel and aluminium are on hold until the beginning of August and today the Commission is sharing with Member States the proposal for the second list of goods, covering some 72 billion euros of imports from the US. The Member States will now have the opportunity to discuss this. This does not exhaust our toolbox: all instruments remain on the table'. So said EU Trade Commissioner Maros Sefcovic during the press conference after the extraordinary Foreign Affairs Council meeting.

Donald Trump insists in Truth that the world has taken advantage of the US for too long. 'The United States of America,' he writes, 'has been robbed in trade (and in the military!), by friend and foe alike, for decades. This has cost thousands of thousands of dollars, and the situation is no longer sustainable - and never has been! Countries should stop and say: 'Thank you for the many years of freedom, but we know that you must now do what is right for America'. We should respond by saying, 'Thank you for understanding the situation we are in. Much appreciated!"

"If we talk about tariffs at 30 per cent or more, there will be a huge impact on trade. It will be almost impossible to continue trade as we are used to in transatlantic relations. Transatlantic supply chains would be severely affected on both sides of the Atlantic'. European Trade Commissioner Maros Sefcovic said this on arrival at the EU Trade Council. "I don't think there is an industry leader who is happy with this tariff policy. We feel we have a huge responsibility for the biggest trade relationship on this planet, showing enormous patience, almost creativity, to find solutions," Sefcovic pointed out. "We must do everything possible to avoid this extremely negative scenario," he added

The European Union still hopes to reach an agreement with the United States after Donald Trump's new threats to impose 30% tariffs as of 1 August, but patience is running out and the bloc is ready to deploy appropriate countermeasures. This is what European Trade Chief Negotiator Maros Sefcovic said today before his meeting with the union ministers. "I plan to talk to my American counterparts again later today, because I cannot imagine stopping here without a real effort," Sefcovic said. "We must prepare for all eventualities," he added, however, "including, if necessary, the adoption of proportionate and well-calibrated countermeasures to restore balance in our transatlantic relationship. "The current uncertainty caused by unjustified tariffs cannot last indefinitely," Sevcovic stressed. According to the French Minister for Foreign Trade, Laurent Saint-Martin, the latest developments with the new threats of tariffs force us 'to change our method'. The minister added that we must not have 'any taboos', not even in announcing the first retaliation. "We want an agreement, but as an old adage says, if you want peace, prepare for war," said Danish Foreign Minister Lars Lokke Rasmussen, whose country currently holds the rotating presidency of the EU. On Sunday, President Ursula von der Leyen announced that the EU would not respond to US tariffs on steel and aluminium for the time being, in the hope of reaching a less painful agreement.

"We have always been very clear that we prefer a negotiated solution. That remains our goal and we will use the time we have until 1 August." Diplomatic diplomatic sources have, however, indicated that a package of further retaliatory measures will be presented to ministers today, to be implemented if Trump actually implements 30% tariffs on imports from the EU.

In a message during her visit to the states of Sinaloa, Sonora and Baja California, Mexican President Claudia Sheinbaum referred to Donald Trump's recent announcement on the imposition of 30 per cent tariffs on Mexican products and stressed that the country's sovereignty is non-negotiable. 'We are clear about what we can discuss with the US government,' she said, 'and there is something that is never negotiable: the sovereignty of our country. I have always said that in these cases, what is needed is calmness to deal with any problem'. The Head of State reiterated that a negotiating table has already been set up in Washington, headed by Economy Minister Marcelo Ebrard and with the participation of representatives from the Ministries of Foreign Affairs, Finance and Energy. Sheinbaum stressed that the Mexican delegation is actively working to resolve the trade conflict and achieve better conditions for the country. "We collaborate, but we never subordinate ourselves," he said.

"The issue of digital services" "and that of the anti-coercion tool", the EU's trade bazooka, "must also be raised" in the response to US tariffs. This was said by the French Minister for European Affairs, Laurent Saint-Martin, on arrival at the Trade Council, pointing out that "there must be no taboos in the European response capacity". "The balance of power wanted by Trump is one in which" Europe must "show the capacity to respond and it is the front on which we must accelerate," he added, urging to assess "what we can do in terms of retaliation."

"In practical terms, the situation today is exactly the same as it was on Thursday or Friday last week. So what we have to do is to keep pushing for these negotiations to actually end in a positive way, which would obviously be the most mutually beneficial outcome, which is an agreement with the US. That is where we have to get to. That is what we have to focus on in the next two weeks. At the same time, as President Ursula von der Leyen said yesterday, we have to prepare for countermeasures, in case this positive scenario does not materialise at the beginning of August'. This was stated by Carlos Cuerpo, the Spanish Foreign Minister, as he entered the extraordinary meeting of the Foreign Affairs Council. The ministers of the Twenty-Seven are still negotiating on the second package of counter-tariffs on US products. "We have to conclude that discussion in order to be ready in case these negotiations do not lead to a positive outcome, i.e. an agreement," Cuerpo stressed. For its part, the EU is 'showing itself to be constructive, even proactive, ready to reach this agreement', because it knows that 'fragmentation is the worst scenario for everyone' and intends to protect the transatlantic relationship, he adds.

Alongside the dialogue with the US on tariffs, Europe must 'prepare countermeasures: both the EUR 21 billion package and the EUR 72 billion package. And I think it is right that we also prepare a third package in which we particularly target digital companies'. Austrian Minister Wolfgang Hattmannsdorfer said this on his arrival at the EU Trade Council, urging the EU to speak "more clearly". "The goal remains a negotiated solution," but "Donald Trump's recent statements have changed the playing field," he pointed out.

For Unicredit analysts, the announcement of tariffs on Europe and Mexico at 30% from 1 August is a bluff by US President Donald Trump, a move perhaps aimed at stalling for time and simultaneously winning domestic political support in the US. Experts therefore advise keeping one's nerve and investing in quality European government bonds at the expense of US bonds for which a further steepening of the yield curve is looming. "In our equity portfolios," they continued, "we continue to pursue a global approach, combining a US component, where well-diversified technology continues to play a key role, with positions in European equities, which benefit from very attractive valuations, and in emerging market equities.

"The current uncertainty caused by unjustified tariffs cannot persist indefinitely and therefore we must prepare for all outcomes, including" the possibility "if necessary, of proportionate and considered measures to restore balance in our transatlantic relationship. I will discuss with ministers the next steps over the coming weeks'. This was said by EU Trade Commissioner Maros Sefcovic on arrival at the EU Trade Council.

EU Trade Commissioner Maros Sefcovic will have a new exchange with his US counterparts today on the tariffs dossier. This was reported by the EU chief negotiator himself on arrival at the EU Trade Council. "I really cannot imagine giving up" on reaching an agreement "without having made a serious attempt", he stressed. "We continue to believe that our transatlantic relationship deserves a negotiated solution that can lay the foundations for new stability and cooperation. That is why we are keeping the dialogue with the US administration open' ahead of the 1 August deadline, Sefcovic explained.

Chinese exports regained momentum in June, while imports picked up as companies accelerated shipments to take advantage of the fragile tariff truce between Beijing and Washington ahead of the August deadline.

Companies on both sides of the Pacific are waiting to see if the world's two largest economies can reach a more lasting agreement or if global supply chains will be disrupted again by the reintroduction of tariffs above 100 per cent. Customs data on Monday showed that outbound shipments from China rose 5.8 per cent year-on-year in June, surpassing the 5.0 per cent increase forecast in a Reuters poll of economists and May's 4.8 per cent growth.

In an interview with his daughter-in-law Lara on Fox News, Donald Trump said he would like to be remembered as "a good person, but a person who saved our country." "I really believed," he explained, "that our country was going to collapse... I didn't know if it could ever come back... it was very close to the brink." Reflecting on his second term, he pointed out that the US was in a dire situation before his return to the White House, with the border crisis, inflation and foreign policy. "When people see the nightmare that we lived through for four years... it was almost like they tried to kill our country," he said, describing his administration as the defining moment to turn things around and boasting of his successes. Trump then recalled the attack he suffered exactly one year ago, on 13 July 2024 in Butle, Pennsylvania. "I was hit... they fired eight bullets... Fortunately, I ducked quickly," he recalled. As for the Secret Service's mistakes, "they should have had someone inside the building... they weren't connected (with local police, ed.)... they had a bad day," he noted, pointing out, however, that he now has confidence in the agency that protects presidents and state figures.

Alongside the 21 billion countermeasures on US tariffs on European steel and aluminium, already approved by the EU and now suspended, and the approximately 72 billion countermeasures against Donald Trump's 'universal' tariffs, the EU Commission envisages a third package of measures relating to export restrictions on certain goods. One of the most relevant examples, with respect to US interest, would be to restrict the export of aluminium scrap from the EU. This is what we learn from diplomatic sources after the meeting today of the ambassadors of the 27. On this issue Coreper basically gave the green light to President Ursula von der Leyen.

"Even today, the Government is in close contact with the European Commission and all the actors involved in the tariffs negotiations. An internal trade war within the West would make us all weaker in the face of the global challenges that we face together". This was stated by Prime Minister Giorgia Meloni, stressing that 'Europe has the economic and financial strength to make its case and obtain a fair and common-sense agreement. Italy will play its part. As always'.

The part of the meeting of the ambassadors of the 27 EU states devoted to US tariffs and possible countermeasures has ended. According to sources in Brussels, Commission President Ursula von der Leyen gathered support for the proposed line, with the decision inter alia to extend the suspension of the first countermeasures package worth almost EUR 21 billion.

EU countermeasures to Donald Trump's announced tariffs? "They will not come before 1 August. I had intensive talks with Macron, with Ursula von der Leyen and on Friday with the US president. We want to use the next two and a half weeks to resolve the situation,' German Chancellor Friedrich Merz said, responding to an interview aired on German public broadcaster Ard. 'I am very intensively engaged on this,' he added, stressing that tariffs at 30 per cent would hit the heart of the German export economy.

"The productive fabric is experiencing an economic emergency that cannot admit any more hesitations or missteps. The Meloni-Giorgetti-Urso trio is now completely adrift, interested only in the intersections of power and not at all in the deteriorating environment. The announced US tariffs at 30%, which if confirmed will cut other substantial resources to growth, to the country and to work, are just the latest landslide of a painfully vain government locked in an insulating bubble of self-praise'. This was stated in a note by the M5s MPs of the Budget and Finance Committees of the House and Senate. Today more than ever,' they argue, 'we need an emergency plan for businesses, with real money and for truly productive investments. No more decrees and decrees. Powerful and far-reaching action is needed. The track on which Meloni, Giorgetti and Urso put themselves is dead. The premier only shows up to accredit herself in circles and small circles. And when she manages to overcome her aphasia she does so only to utter the words 'spread' and 'rating'. ' This government is not up to the emergency. All the business associations have understood and said so indirectly."

"But let one thing be clear," the M5s exponents continue, "to Confindustria and all other business associations: it is not enough to point out that here it is no longer even useful to have a budget law that year after year assembles and disassembles without the slightest trajectory for the country. We need different people in the ministries and independence from power circuits. This is if we want the alarms on the next front page of Il Sole 24 Ore to finally be heard'.

"The partnership between the European Union and Indonesia has never been more important. Today's political trade agreement is a key step in deepening ties and expanding cooperation between the EU and Indonesia, which together represent a market of over 700 million people. During our meeting, Indonesian President Prabowo Subianto and I committed to work closely together to build a strategic partnership that reflects our shared goals and common values". This was stated by European Council President Antonio Costa.

"Indonesian President Prabowo Subianto and I reached a political agreement to promote the free trade agreement. In an unstable world, this is the strength of partnerships". This was said by EU Commission President Ursula von der Leyen at a press point with Subianto.

"We will extend the suspension of our countermeasures until the beginning of August and, in the meantime, we will continue to prepare further countermeasures to be fully prepared." This was stated by European Commission President Ursula von der Leyen, commenting on US President Donald Trump's letter on tariffs.

"As you know, we have prepared and agreed on the first list of countermeasures. We have developed a second potential list of countermeasures that has already been agreed, and the ACI (the anti-coercive instrument, ed.) has been created for extraordinary situations. We are not there yet. This is very important. Now is the time for negotiations, but this also shows that we are prepared for all possible scenarios'. This was stated by the President of the European Commission, Ursula von der Leyen, at a press point with the President of Indonesia Prabowo Subianto in Brussels, in response to a question on the possibility of using the anti-coercion instrument.

Further reading

Tariffs, what the EU's anti-coercion mechanism is and what it provides for

12 July 2025

It will be necessary to take 'decisive countermeasures' to counter US tariffs if no 'fair' agreement is reached with Washington. This was stated by German Finance Minister Lars Klingbeil in an interview with the newspaper Sueddeutsche Zeitung after the letter sent by US President Donald Trump to the EU. According to Klingbeil, it is still necessary to hold 'serious and solution-oriented negotiations' with the US, but he added that, in case of failure, the EU will need 'decisive countermeasures to protect jobs and businesses in Europe'.

"We have always said that we prefer a negotiated solution" with the US on tariffs "and this remains the case". "At the same time, we will continue to prepare for countermeasures. We are therefore fully prepared." This was said by EU Commission President Ursula von der Leyen in a press point.

Confindustria Belluno Dolomiti expresses 'strong concern' over the possibility of new generalised tariffs by the United States, up to 30% on imports from the European Union, announced by Donald Trump and his entourage. 'Our territory is strongly exposed,' says Lorraine Berton, President of Confindustria Belluno Dolomiti and Anfao (Eyewear). Tariffs would be a hard blow for the entire Belluno production system, not only for the eyewear industry but also for the entire industrial chain, which is resolutely looking to foreign markets. Companies are asking for clarity, rules and trust: they cannot operate in a climate of uncertainty and commercial instability'.

In 2023, according to data from the Chamber of Commerce, Belluno's exports to the United States exceeded 1.22 billion euro, or over 23% of the provincial total. Of this, 1.17 billion was attributable to eyewear, accounting for about 95%. In the first nine months of 2024, exports from Belluno to the USA dropped significantly to 930 million, of which 873 million related to eyewear. This is a trend decrease of 23.9% compared to the same period in 2023.

"The US administration's new 'protectionist' tack cannot but cause concern, and not only for industry. Although mainly affecting exports, the tariffs will also have significant repercussions on the domestic market: the slowdown in global growth and the possible effects it would have on Italian employment risk in fact having a negative impact on consumption as well. As we have calculated with Cer, compared to estimates before the introduction of tariffs, this could lead to a reduction in household spending of EUR 11.9 billion in two years: -2.1 billion in 2025 and -9.8 billion in 2026'. The president of Confesercenti, Nico Gronchi, writes in a note. "The entire tertiary sector, therefore, could be involved. Even the tourism sector,' he continues, 'is suffering from this policy of announcements. To the point that, after a start to the year in growth for the flow of American visitors, in June there was a reversal in the trend, with a reduction that, according to our estimates, reached 193 thousand fewer presences in our country than last year. We call on the government and Europe to act and negotiate until the last possible moment to avoid a trade war that risks deeply damaging the global economy," Gronchi concludes.

Further reading

Furniture, 30% tariffs risk 'wiping out the US market'

13 July 2025

Europe is assessing the response to be given to Donald Trump after the announcement of the 30% US tariffs that will be applied to the EU from 1 August: to this end, a meeting of the permanent ambassadors of the 27, the Coreper, urgently convened in Brussels this afternoon at 3.30 p.m., is scheduled. Among the decisions to be taken is the one on possible countermeasures that could already be triggered, in whole or in part, from the beginning of the week.

"We learn with great concern that the European Union has also received, in these hours, the official communication from former US President Donald Trump regarding the imposition of 30% tariffs on imports from the EU as of 1 August next.

Confeuro expresses its clear opposition to this unilateral and provocative decision, which risks further aggravating international trade tensions, primarily affecting European farmers and producers, especially Italian ones'.

Further reading

Tariffs: from automotive to agribusiness, here are the sectors most affected by Trump

13 July 2025

"We know that we have no alternative to negotiation, because if we applied retaliatory measures by triggering a trade war the consequences on the economy of the two continents would be devastating". Thus, to Corriere della Sera, Enterprise Minister Adolfo Urso. "Trump has done the same with other countries, with which he seemed to have already reached an agreement. Suffice it to think of Canada and Mexico'. Urso also mentions China and the fentanyl issue: this 'makes us realise that this is not a mere trade exercise but a much broader negotiation that, as far as we are concerned, also involves European defence investments'. According to the minister, Trump acts in this way 'because he intends to close the negotiations by July and therefore raises the stakes. He is aware that he cannot sustain a protracted negotiation because the impact of uncertainty on the US economy can be devastating. From the beginning it has been a tough negotiation, which is why we must not react from the gut but with the head, maintaining European cohesion, responsibility and unity of purpose'.

Further reading

Tariffs, Palazzo Chigi: full support for EU efforts in the negotiations

12 July 2025

"Trump's letter, which is totally wrong, tells only part of the truth. We are the first market, first in digital and finance, but now you have to give us back the manufacturing lost in America, certainly not because of Europe'. Thus, to Il Sole 24 Ore, the chairman of the House Foreign Affairs Committee Giulio Tremonti. "First of all, curiously enough, the letter was addressed to Brussels defined by Trump as 'Your country', Trump paradoxically is more European than the recipients of the letter, this aspect is very funny."

On the EU side 'I would speak of fatalism, inability and submission. Look at China's behaviour: threat (from Trump), (robust) reaction, agreement. The EU thought it was stronger than China, it expected 10% additional tariffs. 30% came. In the meantime, and to please Washington, the EU gave in on the global minimum tax (together with Canada, coincidentally another heavy Trump target), renouncing to apply it unilaterally to US companies. A very serious mistake, now the question of the net and the digital economy remains open. Trump fears EU rules on the web, including the Ai issue, and net taxation. This is an important negotiating front'.