Trump's 30% Tariffs Would Eliminate Transatlantic Trade, Says EU Negotiator

Donald Trump's threatened 30% tariffs on European goods would eliminate transatlantic trade, the EU's chief negotiator with the US has said, while voicing hope that a deal remained possible.

- Jennifer Rankin

Maroš Šefčovič, the EU trade commissioner, said a tariff of 30% or more would have a huge impact, making it "almost impossible to continue" transatlantic trade, which is worth €4.4bn (£3.8bn) a day.

After talks with EU trade ministers in Brussels, Šefčovič said: "We want to use every day, every possibility and every minute until 1 August to find a negotiated solution." It was obvious from the talks with the ministers, he went on, that a 30% tariff rate was "absolutely unacceptable".

In a letter published on social media on Saturday, the US president said that EU imports would face a tariff of 30% from 1 August, denting European optimism that talks to secure a still painful 10% duty were almost finalised.

In response to Trump's latest deadline, the EU decided to postpone retaliatory counter tariffs on €21bn of US goods that had been due to kick in from midnight yesterday until 1 August.

Ministers also discussed plans for a further round of countermeasures, targeting €72bn of US imports to the EU, but did not reveal details.