EU Trade Commissioner warns high tariffs could devastate EU-US trade

US tariffs at the level of 30% would devastate trade between the European Union and the United States, EU Trade Commissioner Maros Sefcovic stated upon his arrival at the EU Council meeting on external trade, Report informs via TASS.

He also emphasized that President Donald Trump’s letter received in Brussels was met with "disappointment and regret." He added that the European Union "intends to continue negotiations until the new deadline of August 1."

According to Sefcovic, talks with Washington on mutual tariff relief "are at an advanced stage and very close to a result." Should those efforts fail, the EU is preparing "a very measured and balanced response to the US tariffs."

Earlier, European Commission President Ursula von der Leyen stated that 30% US tariffs on European exports would undermine key transatlantic supply chains.