The European Commission (EC) disagrees with the concept of reciprocal duties, the introduction of Wednesday evening was announced by US President Donald Trump and which EU countries may cost EUR 380 billion per year. He said this on Friday afternoon, shortly before further negotiations with American partners, European Commissioner for Trade and Economic Security Maroš Šefčovič, informs Brussels newsletter TASR.
Specified that new duties mean a huge intervention in the world economy And in a dramatic way, they undermine the foundation of the world’s trading system. “For Europe, this means that reciprocal duties are imposed on goods worth EUR 380 billion, or more than seventy percent of our exports to America,” explained.
He pointed out that if the US had selected seven billion euros for US goods for US goods. Based on new duties, this amount would be It climbed to 81 billion euros, which is an 11-fold increase. According to him, this will not happen because at least half of the EU goods will look for sales elsewhere. That is why it is necessary to negotiate with the US, but at the same time prepare for retaliatory measures.
Union countermeasures for over 20 billion euros will include a wide range of goods, for example, from the agrosector and engineering area. The final list of goods should be approved on Monday (April 7) by the Ministers of the Member State trade at a meeting in Luxembourg. “We want to have a solid discussion with trade ministers to strengthen what Europe needs most, and that is unity, a uniform procedure. To realize the US that we have strong people’s support for these vigorous measures, ”he explained.
According to Šefčovič, the list of customs and countries showed by Trump is surprising. Calculation of the amount of customs duties does not have logic and the list is absent from Russia, What he thinks, the US also explains that they do not trade in Russia for imposed sanctions. “The reactions that come from around the world are extremely negative. In this spirit, the business environment and financial markets also respond,” he pointed out.
For the EU, this means more communication with other countries. The US is 15 % of the world’s trade, But the rest of the world 75 % and the EU want to trade as ever, to preserve the previous world order with predictability in trade and according to international law. Šefčovič recalled that he receives phone calls from trade ministers from all continents and therefore it is important to The EU continued the offensive policy of concluding trade agreements. And, for example, to use the willingness of Mercosur countries to reduce 35 % duties to zero. The Union also offered the Union to the American side that did not hear it.
