After all, Donald Trump is now getting serious: starting August 1, he wants to impose a 30 percent tariff on products from European Union countries, including Austria, when imported into the US. This would seriously hamper exports. As Trump announced in his "Social Truth" platform, the new tariffs on goods imported into the United States will be applied starting August 1.
The EU expected a trade deal. The EU expected a comprehensive trade agreement with the United States. Trump had already announced new tariffs for several countries, including Japan, South Korea, Canada, and Brazil. He also wants a 50 percent tariff on copper. This could seriously hamper the export economies of EU countries. However, Trump had repeatedly threatened to impose tariffs and then postponed them again or lifted measures that had already been imposed.
European Commission President Ursula von der Leyen warned that 30 percent tariffs on EU exports would severely disrupt transatlantic supply chains. The EU has always sought a negotiated solution with the United States, von der Leyen explained. They are willing to continue working on an agreement until August 1. If this is unsuccessful, the EU will take all necessary steps to protect its interests, including countermeasures, the Commission chief said.
However, the Italian government is confident that a fair agreement can still be reached. It is crucial to focus on negotiations, said Prime Minister Giorgia Meloni's office. Rome fully supports the European Commission's efforts, which will intensify in the coming days. Reaction to the new EU tax? Trump's announcement could be partly related to the EU's planned new tax on large corporations, including US tech giants like Apple and Meta.
The US president had repeatedly criticized the EU's regulation of US tech companies. For EU cars, an increased tariff rate of 25 percent already applies in the US. Importers must pay 50 percent surcharges on steel and aluminum products, including steel used in refrigerators and washing machines. Brussels has prepared counter-tariffs on US products worth around €21 billion, but they are suspended while negotiations continue. An initial list includes US products such as jeans and motorcycles.
