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Italian Foreign Minister Antonio Tajani warned Monday that the EU is ready to impose billions in retaliatory tariffs on US goods if trade talks fail, stressing that “tariffs hurt everyone,” including American consumers and investors, Xinhua reported.

The warning follows US President Trump’s plan to introduce a 30 percent tariff on EU and Mexican imports starting August 1.

Italian Prime Minister Giorgia Meloni echoed concerns, urging diplomacy over a “damaging trade war” that would weaken both sides.

Reports suggest Italy could lose up to €12.4bn in exports and 150,000 jobs. Agricultural producers would be hit hardest, with cheese, wine, and pasta facing steep tariff hikes, according to Xinhua.

Ukrainian President Volodymyr Zelensky on Monday submitted bills to Ukraine's parliament seeking a 90-day extension of both martial law and general mobilization.

If approved, the measures will now remain in effect until November 5, beyond their current expiry date of August 7, Xinhua reported.

Martial law and mobilization have been repeatedly extended since they were first enacted in February 2022, following Russia’s full-scale invasion.

Danish Foreign Minister Lars Lokke Rasmussen has slammed the Trump administration’s proposed 30 percent tariffs on EU exports as “absolutely unacceptable.” Speaking alongside EU trade chief Maros Sefcovic, he said the bloc is open to a fair deal but ready to respond if talks fail, Xinhua reported.

Sefcovic said the EU is preparing €72bn in countermeasures and stressed that any final agreement must be approved by all 27 member states and the European Parliament.

US President Donald Trump has delivered a stern ultimatum to Moscow: stop the war in Ukraine within 50 days or face sweeping 100 percent tariffs, as well as penalties on countries that continue to trade with Russia, BBC reported.

Speaking at the White House with NATO Secretary-General Mark Rutte, Trump confirmed a significant arms deal in which billions of dollars in US military equipment, including Patriot missile systems, will be supplied to NATO and quickly delivered to Ukraine. Rutte described it as a "big step," noting that numerous European governments have already committed funding.

Though Trump began his second term aiming for a quick peace with Russian President Putin, he now appears frustrated by Russia’s escalating aggression. “We’re very, very unhappy,” he told reporters.

Trump’s envoy Keith Kellogg met with Ukrainian President Zelensky in Ukraine, who welcomed the renewed support and discussed strengthening Ukraine’s air defense, according to BBC.

Meanwhile, Russian forces seized more territory in eastern Ukraine as drone and missile strikes pushed civilian casualties to a three-year high. In response, Zelensky proposed naming Yulia Svyrydenko as prime minister, calling it a “crucial time” for Ukraine.