British press: The EU is ready to impose retaliatory tariffs to ensure a better trade deal with Trump

On June 24, according to the Financial Times, ahead of the upcoming deadline for negotiations, a senior official warned that the EU must retaliate with a “credible threat” in the trade war initiated by Trump if it wants to reach a good deal. Seibert, chief of staff to the European Commission, told EU ambassadors last week after the G7 summit that the prospect of a strong response would help persuade the U.S. president to lower the high tariffs imposed on the bloc, two EU officials said. German Chancellor Angela Merz also hinted that his government would support tougher measures. “If no agreement is reached, we are ready to use various options,” he said on Tuesday. We can and will defend our interests. Seipert told ambassadors that European Commission President Ursula von der Leyen is ready to escalate negotiations to fight for a better deal. He asked for support for a package of tariffs on 95 billion euros worth of American goods, and said the European Commission was also preparing measures to target the services sector — including a tax on American technology companies and restrictions on access to public procurement contracts for American companies. One of the officials said the message was that “we need leverage through credible rebalancing.” (Golden Ten)