The 30% tariff on European goods threatened by U.S. President Donald Trump would, if implemented, be a game-changer for Europe, wiping out whole chunks of transatlantic commerce and forcing a rethink of its export-led economic model.

Brussels

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

European Union ministers have condemned the proposed 30% tariff on European goods threatened by US President Donald Trump, describing it as unacceptable and unjustified. The EU is preparing for high-level talks with the US in an effort to prevent the tariffs, which could disrupt the $1.7 trillion trading relationship between the two economies.

Officials warned that such tariffs would make a wide range of European exports, including pharmaceuticals, automobiles, machinery, and wine, uncompetitive in the American market. The EU has indicated it is willing to respond with similar measures if the US proceeds, while some see the situation as a potential catalyst for economic reforms within Europe.

For Europe, 30% U.S. tariff could cripple trade

Absolutely unacceptable and unjustified. That was the reaction from EU ministers to a 30% tariff on European goods threatened by US President Donald Trump. So this is a situation we have to protect the jobs, we have to protect the businesses, we have to protect EU economy and we need to go for these rebalancing measures. Trade Commissioner Maros Sefcovic will talk with US Trade Representative Jameson Greer on Tuesday with the looming August 1st deadline set by the American leader. EU ministers meeting in Brussels on Monday remained convinced they can bring Trump back from the brink and reach a deal that would keep the $1.7 trillion two-way trading relationship broadly intact. Some in the EU said they would not be intimidated. German Chancellor Friedrich Merz said the US should not underestimate Europe's willingness to respond to excessively high tariffs with similar measures. Last year the United States accounted for a fifth of all EU exports, its largest partner. Trump's complaint is the $235 billion US deficit in goods traded with Europe, even though the US earns a surplus on services. The impact of making European exports from pharmaceuticals to autos, machinery or wine too expensive to be viable for American consumers would be instantly tangible. Trump has threatened to impose 30% tariffs on all EU exports to the US, so that would affect the pharmaceutical sector, so that's one thing. Peter Bekirkegaard is the head of trade policy at a Danish industry group. He said Danish pharmaceutical companies, including industry giant Novo Nordisk, maker of weight loss drug Wigovi and diabetes medication Ozembic, could be hit. Some have argued the standoff with Trump is what the EU needs to complete long-delayed reforms of its single market, boosting domestic demand and rebalancing its economy away from the exports, which account for around half of output.

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For Europe, 30% U.S. tariff could cripple trade

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