The European Union and the United States are locked in high-stakes negotiations to avert a transatlantic trade war, with President Trump threatening to impose tariffs of up to 30% on EU imports starting August 1. European Commission President Ursula von der Leyen is set to meet Trump in Scotland in a last-ditch effort to secure a deal, but both sides are preparing for the possibility of failure. The EU has readied a massive countermeasure package targeting up to €100 billion of US goods if talks collapse. Key industries, including autos and steel, are bracing for significant disruptions, and global markets are watching closely as the outcome could impact supply chains and consumer prices worldwide. The situation remains tense, with both sides signaling willingness to retaliate if an agreement is not reached.
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