European Official: EU should promptly establish countermeasures on Monday

On July 13th, Bernd Lange, the chair of the European Parliament's Committee on International Trade, stated that the EU should take countermeasures promptly on Monday. He said, "Trump's tariffs on the EU are a blatant act that disrespects negotiations. This is not the proper way to handle an important trading partner." (FXStreet) Earlier, Ursula von der Leyen, the president of the European Commission, made a statement noting the letter from US President Trump outlining revised tariff rates and a new schedule. The statement indicated that a 30% tariff on EU exports to the US would disrupt crucial transatlantic supply chains and harm the interests of businesses, consumers, and patients on both sides. Globally, few economies can be as open and committed to fair trade rules as the EU. The EU has always been dedicated to resolving differences with the US through negotiation. The EU remains ready to continue making efforts to reach an agreement by August 1st.