The European Union’s stance on potential US tariffs has been made clear by EU Trade Commissioner Maros Sefcovic, who stated that the EU will respond firmly and swiftly if such measures are imposed. Sefcovic dismissed President Donald Trump’s claims of unfair trade practices, emphasizing the mutual benefits of the transatlantic trade relationship.
During a speech at the American Enterprise Institute in Washington, Sefcovic emphasized the importance of economic stability and predictability for businesses on both sides of the Atlantic. He stated that sudden tariff hikes by the US are unjustified and could disrupt the win-win partnership that exists between the EU and the US.
While Sefcovic pledged to defend European interests, he also expressed a commitment to avoiding an all-out trade war. He urged both sides to act responsibly and find a resolution to their differences through dialogue and negotiation.
The EU-US trade relationship is a significant one, accounting for nearly 30 percent of global trade. Sefcovic highlighted the EU’s openness to trade, with over 70 percent of imports entering the EU at zero tariffs. He also addressed Trump’s threats of reciprocal tariffs, which would be based on the levies imposed on American goods and perceived discriminatory taxes like Europe’s value-added tax.
Trump’s criticisms of the EU’s higher tariff rate on automobiles were met with a rebuttal from Sefcovic, who pointed out that American tariffs are higher in sectors like agriculture. The potential impact of Trump’s proposed tariffs on American consumers was also raised by Germany’s car lobby.
In addition to the EU, Trump has been increasing pressure on other trade partners, including China, with tariffs on Chinese goods and duties on steel and aluminum imports. The EU remains hopeful for a peaceful resolution to these trade tensions, but stands ready to retaliate if necessary.
Overall, Sefcovic’s remarks underscore the complexities of the EU-US trade relationship and the need for constructive dialogue to address trade disputes. The EU remains committed to upholding its interests while striving to avoid a full-blown trade war with the US.
