While the planet, as they all show, enters the vortex of a large -scale trade war between them and China, is trying to find
In this context, EU Commissioner Maros Sefkovic will travel to the US on the weekend “to try to sign agreements” with the Trump government, holding meetings with senior officials on Monday.
The European Commission’s spokesman for Commerce, All Gill told RTE Irish Radio that “the Commissioner is going to Washington to try to sign agreements. We focus on it. “
However, Mr Gil implied that the EU does not exclude further retaliation if the talks do not evolve positively: “All options are on the table, if this does not lead to good results,” he said.
At the same time, Economy Commissioner Valdis Dobrovskis at the start of the meeting of the finance ministers of the 27 -year -old EU member states in Warsaw yesterday, said that “we are ready to work with the US and find constructive solutions.”
“But we will pass a message: If we do not see a change from the American side and a desire to move away from its tariff policy, we will have to defend our economy,” Dobrovskis assured.
‘To use the 90 days wisely’
It is recalled that the highest US tariffs on European products, which Donald Trump had announced earlier this week, eventually “entered the ice” for 90 days, after a negative stock market rally, which upset many on both shores.
Specifically, the US president has unexpectedly announced on Wednesday that it suspends the validity of the additional 20% duties imposed on Europe, but the 10% duties imposed by the United States on all product imports from overseas, as well as 25% for car imports and steel.
“We need to use 90 days wisely,” Polish Finance Minister Andrei Domanski said on his arrival at the Warsaw Summit.
The American side must realize that if the negotiations do not work, we should have another debate on the answer mechanisms, “commented, for his part, by German Finance Minister Yerg Koukis.
The interruption of planned retaliation
European Commission President Ursula von der Laieni, for her part, stressed that Trump’s trade war has caused a “turning point in world trade”, adding that “there are no winners in it, only losers”, while referring to the market for the markets today, ” We are experiencing today it will be heavy. “
the committee interrupted Thursday the planned retaliation against US steel and aluminum duties imposed last month. The measures would have hit about 21 billion euros of imports from the US.
The president of the Commission said that the EU had previously attempted to negotiate with the US, but she was told to wait until Trump’s announcement on April 2, which imposed “20%” duties on the EU.
US will be more affected than duties
According to European officials, these commercial policies. “Imposing duties will weaken the US economy by reducing consumer purchasing power and increasing the cost of imported goods,” Mr Dobovskis said in particular.
In fact, he warned that in addition to the immediate consequences, investor confidence can further intensify pressures on US GDP.
According to the Commission’s simulations, the cumulative negative impact of tariffs on US GDP is expected to range between 0.8% and 1.4% by 2027. For the European Union, the corresponding rate is estimated at about 0.2%.
However, if the duties are permanently acquired, then the consequences will be clearly heavier: the US hit will reach up to 3.3% of GDP, for the EU up to 0.6%, while the global economy will lose up to 1.2% of GDP. World trade, respectively, could be reduced by up to 7.7% over the next three years.
China calls Europe to partnership against US
Of particular interest, however, is the proposal of Chinese President Xi Jing, who called on the European Union to join Beijing “to resist together” in the coercion they receive during the trade war with Washington, Donald Trump.
“China and the European Union must assume their international responsibilities, protect economic globalization and international commercial environment together, and resist together” in every unilateral coercion, “Xi Jinping specifically during a joint press conference with Prime Minister Padre.
“This will allow not only the preservation of our rights and our legitimate interests, but also to protect international equality and justice and the imposition of respect for international rules and international order,” Si added.
The Spanish prime minister responded by saying that “Spain and Europe have a significant trade deficit with China which we need to help restore it.” “We must not let the commercial tensions get in the way of the dynamics of developing relations between China and the European Union,” the Spanish prime minister concluded.
