The European Union continues trade negotiations with the US. However, preparations for retaliation against the new US tariffs are also underway.

EU Commission President Ursula von der Leyen announced that the US will impose a 30% tariff on EU products starting August 1. This situation will negatively affect transatlantic supply chains.

Von der Leyen emphasized that they prioritize a negotiated solution with the US. However, she also highlighted their readiness to take necessary measures if needed.

She warned that tariffs would increase inflation and harm consumers. Millions of people are expected to face higher prices.

The EU is planning a retaliation package worth 26 billion euros against the new US tariffs. This aligns with the economic impact of the tariffs imposed by the US.

In conclusion, the trade relations between the EU and the US have entered a tense period. Both sides continue negotiations while remaining prepared for possible retaliations.