The European Commission's Trade Commissioner has said trade between the bloc and the United States would be "almost impossible" if Donald Trump imposes 30% tariffs.
Before heading into a meeting of the European Union's Trade Ministers, a meeting which he convened, Maroš Šefcovic told reporters talks with the US are ongoing.
He said the EU "intends to continue negotiations until the new deadline of August 1st", adding discussions with Washington on mutual tariff relief "are at an advanced stage and very close to a result."
Mr. Šefcovic added that should their efforts fail, the European Union is preparing "a very measured and balanced response to the US tariffs."
He also said the bloc was prepared for "all outcomes", but that a 30% tariff will make it "almost impossible to continue" transatlantic trading in the way both parties have done so in the past.
European leaders appear to have different tactics when it comes to dealing with the US President proposing tariffs on nearly all EU imports.
French President Emmanuel Macron called on the EU to "defend European interests resolutely", seemingly pushing for the bloc to be ready for an all-out trade war.
Germany's Chancellor Friedrich Merz meanwhile said he had spoke directly with Donald Trump, while Italy's Prime Minister Giorgia Meloni said she trusted a "fair agreement" could be reached."
Tánaiste Simon Harris believes the back and forth between the EU and US is all part of Trump's playbook "recognises the need for a deal", adding upping tariffs is "his way" of negotiating.
President Trump announced "reciprocal tariffs" on imports from all countries back on April 2nd - a day which he called "Liberation Day."
A universal 10% tariff took effect on April 5th, but additional tariffs were paused after a stock market crash.
Although the pause on additional "reciprocal tariffs" was set to expire on July 8th , the Trump Administration delayed it again to August 1st, 2025.
The White House sent letters informing countries of new tariff rates over the weekend.
