"I intend to talk again with my US colleagues later today, as I cannot imagine leaving without making a real effort," Maros Sefcovic said before a meeting of EU ministers, according to AFP.

"We must be prepared for all possibilities, including, if necessary, proportionate and well-considered countermeasures to restore balance in our transatlantic relations," he warned, as Brussels finalizes possible retaliatory measures.

"The current uncertainty caused by the unjustified tariffs cannot continue indefinitely," Sefcovic stressed.

"We do not want a trade war, we do not want escalation," emphasized Danish Foreign Minister Lars Løkke Rasmussen, whose country currently holds the EU presidency.

"We want an agreement, but there is an old saying that goes, 'If you want peace, prepare for war,'" he added.

The situation has changed since Donald Trump's announcement on July 12, French Budget Minister Laurent Saint-Martin said.

"Obviously, Saturday's situation requires us to change our approach," Saint-Martin told the media in Brussels, stressing the need for "no taboos."

The European Commission is competent to negotiate trade agreements on behalf of the 27 member states, and its president, Ursula von der Leyen, has opted to wait for now.

Following US President Donald Trump's threat over the weekend to impose 30% tariffs on European imports, von der Leyen announced on Sunday that the EU would not retaliate for the time being, in the hope of reaching an agreement before the August 1 deadline.

"We have always been very clear that we prefer a solution achieved through negotiations. This remains the case and we will use the time we have until August 1," von der Leyen emphasized. | BGNES