Article originally in the Financial Times.
The European Union regretted the decision of US President Donald Trump to impose extensive duties on Canada, Mexico and China, stating that it would respond vigorously if the threat of expanding commercial measures to Europe.
Over the weekend, Trump triggered a global trade war by announcing measures against the three largest trading partners of the United States across the EU, which has the largest trade deficit with Washington. So far, the Trump government has abandoned the imposition of duties on the EU despite the fact that the US President said on Friday that he would “certainly” do so, and he reiterated over the weekend that it would “certainly” act.
They don’t take almost nothing, we take everything
“They do not take our cars, they do not take our agricultural products, they take almost nothing, and we take everything from them,” Trump told reporters. “Millions of cars, a huge amount of food and agricultural products,” he said that there is no “time plan” of measures against the EU yet, but will soon be.
The EU executive spokesman said that the United States’ trade and investment relations with the United States are the largest in the world, adding that “there are many stakes”. “Popular customs measures increase business costs, harm workers and consumers,” the spokesman said. “Councils cause unnecessary disruption of the economy and increase inflation. Are damaging all parties. ”
“Popular customs measures increase business costs, harm workers and consumers,” the spokesman said. “Councils cause unnecessary disruption of the economy and increase inflation. They are damaging all parties. “” We are currently unaware of any additional duties imposed on EU products, “the Commission said on Sunday.
Šefčovič is ready
EU officials have started to develop emergency plans for Trump’s commercial war last summer. The original approach consisted of negotiations on areas where the EU could buy more US products, such as liquefied natural gas, and reduce the commercial deficit that the President regularly condemns.
Some capitals also bet on the promises of increasing their national defense spending in an effort to calm Trump, who wants NATO members to spend five percent of GDP on the army.
If all these efforts failed, the Commission Department spent months to draw up lists of imports from the United States, which could impose a duty of 50 percent or more. Brussels keeps details about these retaliatory measures secret not to provoke Trump.
Given that Washington is being carried out for Trump’s nominees, EU Commissioner for Trade Trade Maroš Šefčovič “is ready to participate as soon as his colleagues are confirmed”, one of the EU officials said.
Europe will not be pushed
Klaas Knot, a member of the European Central Bank Governing Council, said on Sunday that they expected countries to take retaliatory measures against the United States measures and intensify the trade war that will damage all parties. “Europe will not want to be pushed. We are also a strong business union with 400 million consumers, ”said Knot, president of the Dutch central bank, on Sunday on Dutch television.
French Prime Minister François Bayrou also called on other EU countries to unite if Trump continues his threat of customs. “If we care about our own interests, then we will disappear,” he told La Tribune on Sunday.
“We have cards that we can play in the face of Trump’s America,” Bayra said, mentioning French products in which his country “stands out” – for example, aircraft, helicopters and nuclear power plants.
Trump has introduced a flat duties against Canada and Mexico, referring to the Act on International Extraordinary Economic powers that allows him to take measures in response to a “unusual and extraordinary threat”.
It would have to find a justification for the use of the same tool against the EU or the introduction of tariffs aimed at certain industries for security reasons, as he did during his first term of office.
Another news: Leila Abboudu in Paris
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