While preparing a first batch of targeted remedies, European Union ministers on Monday mostly decided to prioritize discussions to lift President Donald Trump’s tariffs over retaliation.
Under Trump’s policy to target nations he claims impose high barriers to US imports, the 27-nation EU will be subject to 25% import tariffs on steel, aluminum, and automobiles, as well as “reciprocal” duties of 20% on nearly all other commodities, starting on Wednesday.
On Monday, trade ministers gathered in Luxembourg to discuss the EU’s response and relationship with China. Many stated that the top priorities should be starting talks and preventing a full-scale trade war.
We must maintain our composure and react de-escalatingly. The current state of the stock markets demonstrates what would occur if we escalate immediately. Reinette Klever, the Dutch trade minister, told reporters, “But if necessary, we will be ready to take countermeasures to get the Americans at the table.” At a press conference in Brussels, European Commission President Ursula von der Leyen stated that the EU was prepared to negotiate a “zero-for-zero” tariff agreement for industrial goods.
Thus far, negotiations with Washington have been challenging. During his two-hour meeting with US counterparts on Friday, EU Trade Commissioner Maros Sefcovic called it “frank” and informed them that their tariffs were “damaging, unjustified.
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