EU ministers meet for urgent talks after US president threatens 30% tariffs on bloc

A show of unity is expected publicly with German chancellor Friedrich Merz saying he will work “intensively” with Emmanuel Macron, Ursula von der Leyen and Trump to try and rescue the agreement in principle that was put on Trump’s desk last week involving tariffs of 10%.

Over the past three months Germany has urged a quick UK style deal while Macron has favoured a tougher stance to face down Trump, given average tariffs before his presidency were 2.5% and they breach WTO rules.

The EU’s continued and future reliance on the US for security and defence is influencing the position with member states accepting a trade off between business and arms and military intelligence Trump provides.

If stock markets fall that puts at risk the pensions and the savings of the Americans.