G7 trade meeting positive despite uncertainty over new tariffs

Deputy Premier and Foreign Minister Antonio Tajani told reporters on Monday that the atmosphere at a meeting of G7 trade ministers in Brussels was “rather positive” despite the renewed uncertainty.

On Friday, the Supreme Court struck down a key component of the tariff framework introduced by President Donald Trump. Within hours, the US administration announced a new 15 per cent global tariff under a different legal mechanism, prompting concern among trading partners.

“I participated from Brussels in an important meeting of the G7 trade ministers to immediately raise the issue of the US Supreme Court’s decision on tariffs,” Tajani said. He added that Washington had made clear its interest in avoiding further disruption.

“During the G7 meeting, America’s interest in not worsening the situation was clearly evident,” he said. “We share a common goal on both sides of the Atlantic: predictability for our businesses, strengthening of the economic partnership and renewed commitment to growth.”

Legal basis of US measures may change

Tajani suggested that, although the legal basis of the US measures may change following the court ruling, the substance of the existing arrangements with the European Union could remain intact. “We are in favour of dialogue and are committed to ensuring that the United States respects the agreement that was in force,” he said. “We believe that even with a new legal basis, the same result can be achieved.”

He described the current phase as one of “constructive dialogue” with Washington. “Therefore, no trade war, no aggressive stance,” he added.