Tariff Tussle: EU Leaders Promise ‘Firm’ Response to US
The European Union is taking a strong stance against the US tariffs, vowing to respond firmly and proportionately.
European Commissioner for Trade and Economic Security, Maros Sefcovic, expressed deep regret over the US decision, calling the tariffs “unjustified” and warning that they’ll lead to increased prices and inflation.
Sefcovic noted that the tariffs are a “lose-lose scenario” and economically counterproductive. However, he also stressed the EU’s willingness to engage in a “constructive dialogue” to resolve the issue.
Sefcovic said this in a speech to members of the European Parliament (MEPs) in Strasbourg on Tuesday.
Describing the move as a lose-lose scenario, he warned that the tariffs were economically counterproductive but emphasized the EU’s willingness to engage in a “constructive dialogue.’’
“We will keep all communication channels open. The EU is ready for any challenges that may arise in the field of trade.
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“When necessary, we will defend our openness, industry, and single market,’’ he said.
European Commission President Ursula von der Leyen also weighed in, stating that the EU will act to safeguard its interests and that unjustified tariffs won’t go unanswered.
She mentioned that the EU might reactivate tariffs on US products like bourbon, motorcycles, and orange juice, which were previously suspended.
“I deeply regret the U.S. decision to impose tariffs on European steel and aluminum exports. Tariffs are taxes bad for business, worse for consumers,’’ she said in a statement.
“Unjustified tariffs on the EU will not go unanswered; the EU will act to safeguard its economic interests.
“We will protect our workers, businesses, and consumers.”
U.S. President Donald Trump announced Monday that steel and aluminum imports would be subject to a 25-per cent tariff upon entering the U.S., regardless of their country of origin.
PRNigeria reports that the EU’s response will likely be discussed further at a video conference of European Union trade ministers scheduled for Wednesday.
