European leaders have strongly condemned U.S. President Donald Trump’s threat to impose a 30% tariff on European goods starting August 1st. The move has sparked fears of a potential trade war between the U.S. and the EU, prompting calls for countermeasures and a defense of European interests.

EU Commission President Ursula von der Leyen stated the EU remains ready to work towards an agreement before the deadline but will take necessary steps to protect its interests, including adopting proportionate countermeasures if needed. French President Emmanuel Macron echoed this sentiment, expressing “very strong disapproval” and urging the EU to prepare credible countermeasures.

Danish Foreign Minister Lars Løkke Rasmussen labeled Trump’s threat “meaningless” and “a very short-sighted approach.” Swedish Prime Minister Ulf Kristersson indicated the EU is prepared to respond with strong countermeasures if necessary.

Italian Prime Minister Giorgia Meloni, considered to have a positive relationship with Trump, affirmed the Italian government’s support for the European Commission’s efforts and called for avoiding polarizations that would hinder reaching an agreement.

Berlingske’s business commentator, Thomas Bernt, suggests the situation is potentially more dangerous than the previous trade war between the U.S. and China, given the significantly larger volume of trade between the U.S. and the EU. He notes that total trade in goods is over $850 billion between the U.S. and the EU, compared to $600 billion between the U.S. and China. Including trade in services, the figure grows to approximately $1.3 trillion.

Bernt highlights a fundamental problem in the escalating trade conflict: Trump primarily focuses on trade in physical goods, neglecting the U.S.’s substantial dominance in trade in services, particularly through large American tech companies. Discrepancies in the figures regarding trade in services further complicate the situation, making it difficult to find a resolution to the trade conflict.