European Union Trade Commissioner Maros Sefcovic will fly to Washington this afternoon for a new round of discussions on tariffs with U.S. counterparts, a European Commission spokesperson confirmed. The talks follow Sefcovic’s calls on Monday and Tuesday with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer.
German Finance Minister Lars Klingbeil, speaking alongside French counterpart Eric Lombard, stated: “We want serious, focused negotiations with the United States. Europeans are united and determined: we seek a fair agreement with the Americans. But it’s clear that without one, decisive countermeasures will be necessary to protect jobs and businesses in Europe.” Klingbeil sharply criticized the tariffs, declaring: “Trump’s tariffs know only losers. They threaten the American economy at least as much as European companies, which is why this trade conflict must end.”
Meanwhile, former U.S. President Donald Trump announced at an event in Pittsburgh that tariffs on imported pharmaceuticals will “very probably” be imposed starting August 1st. Trump added that tariffs on semiconductors could follow shortly thereafter, according to a Bloomberg report.