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Investing.com -- The European Union is prepared to implement countermeasures against the United States if trade negotiations between the two economic powers break down, EU trade chief Maros Sefcovic said Monday.
Speaking after a meeting with EU ministers in Brussels, Sefcovic stated that EU member states had reached a consensus on the need for such measures should the talks fail to produce an agreement.
Despite this stance, Sefcovic expressed optimism about the ongoing dialogue, saying there is "still a potential to continue the negotiations" with the United States.
The trade chief emphasized that any potential deal would require approval from both EU member states and the European Parliament before it could be implemented.
Sefcovic also revealed he planned to speak with his American counterparts later Monday to discuss the current state of negotiations.
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