Italian foreign minister signals $24B EU tariffs list on US goods

ISTANBUL

Italian Foreign Minister Antonio Tajani signaled a list of EU tariffs worth €21 billion ($24 billion) in response to recently announced US tariffs unless a deal is reached.

"A list of European tariffs worth €21 billion is ready, and a second could be added. I'm confident there will be progress. Tariffs harm everyone, starting with the United States," Tajani told daily Il Messaggero on Monday.

He noted that a downturn in the stock market would put Americans' pensions and savings at risk and reiterated that their long-term goal is zero tariffs, enabling an open market between the US, the EU, Canada, and Mexico.

"My mantra is to achieve double zero: no tariffs between Europe and the United States. I realize it's not easy, but it's the only way to grow our economies together," Tajani said.

He also called on Europe to negotiate in a calm and collected manner "with its head held high," stressing that it's "in everyone's interest" to avoid a trade war, as "Europe needs America, and vice versa."

On Saturday, Trump announced that the US will impose 30% tariffs on the EU and Mexico starting Aug. 1, putting the US-EU trade talks at risk, as the bloc had aimed to finalize a comprehensive trade deal this month.

In a post on Truth Social, Trump shared separate letters addressed to European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum, announcing a 30% tariff on goods bound for the US from Europe and Mexico.

Ursula von der Leyen then voiced readiness to work toward an agreement with the US by Aug. 1 and vowed to take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures.