EU trade ministers discuss impending U.S. tariffs

EU trade ministers met in Brussels on Monday to discuss U.S. President Donald Trump's introduction of a 30% tariff on EU imports beginning on 1 August. 

The European Union will, for now, suspend the bloc's countermeasures until early August, as they continue to press for a negotiated settlement.

State Secretary for Foreign Trade and Development Cooperation, Zdenko Lucić, said ministers had gathered to find an agreement with their American partners.

"This is important for our industry and for the industrial sectors of Europe and the United states. Without cooperation between these two large markets, we believe that economic growth and development will not be at the level that it could be without an agreement," said Lucić.

European Commissioner for Trade and Economic Security, Maroš Šefčovič, said he believed the United States was ready to continue negotiations.

"We, of course, will seize the opportunity because I am absolutely 100% sure that a negotiated solution is much better than the tensions we could have after August first if we don't land this one," added the commissioner.

For his part, Prime Minister Andrej Plenković said the impending trade war did not pose a major threat to the Croatian economy.

"The United States can't have it both ways," said President Zoran Milanović. "They can't have complete tariff protection for their exports while at the same time manipulating the dollar, which is not a real currency. It's a fictitious money backed by the threat of force from the U.S. military, which is losing less and less power," said Milanović.