EU threatens countermeasures over U.S. tariffs; Trump says he is open to talks

The European Union on Monday accused the U.S. of resisting efforts to strike a trade deal and warned of countermeasures if no agreement is reached to avoid the punishing tariffs President Donald Trump has threatened to impose starting on August 1. The White House has clarified that the 30% tariffs on Mexico, which Trump has blamed for not doing more to stem the flow of fentanyl into the U.S., would not apply to goods shipped under the USMCA trade agreement, which covers the vast majority of goods shipped from Mexico to the U.S. After Chancellor Friedrich Merz said on Sunday that a 30% tariff would "hit the German export industry to the core", the head of the German Chamber of Commerce and Industry called for swift action.