“We have always been very clear that we prefer a negotiated solution. This remains the case, and we will use the time that we have now till the 1st of August (to negotiate),” von der Leyen added.

The European Union won’t immediately retaliate against President Donald Trump’s tariffs, a move that’s prompted warnings it could strengthen Washington’s position ahead of a looming deadline.

The ministers met Monday in Brussels following Trump’s surprise announcement over the weekend of such hefty tariffs, which could have repercussions for governments, companies and consumers on both sid...