On February 19, European Union (EU) Trade Commissioner Maros Sefcovic said the bloc is ready to discuss with the US the issue of 25% tariffs on cars, in order to prevent a trade war between the two sides of the Atlantic.
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| EU Trade Commissioner Maros Sefcovic said Brussels was ready to negotiate a broader deal to avert a trade war after President Donald Trump threatened to impose 25% tariffs on cars from April 2. (Source: Politico) |
“We are ready to discuss auto tariffs with the United States,” EU Trade Commissioner Maros Sefcovic said at an event hosted by the American Enterprise Institute (AEI) ahead of his meeting with Washington officials.
Trade Commissioner Sefcovic stressed that the EU is ready to discuss a broader deal with President Trump, potentially including technology regulation and other non-trade concerns, such as increased military spending by EU members.
“President Trump is a businessman with a long history and has the idea of a ‘grand bargain’, so the two sides should discuss these issues. I have full confidence in the relationship between the two sides,” said Mr. Sefcovic, a former Slovakian diplomat .
Earlier, President Donald Trump expressed his complaints about the 10% tariff on EU cars, which is currently four times higher than the US tariff of only 2.5%.
This tariff imbalance is why Mr Trump has threatened to impose reciprocal tariffs. In addition to cars, Mr Trump has threatened additional tariffs on certain sectors that could hurt the EU, such as the automotive, semiconductor and pharmaceutical sectors.
In response, Mr. Sefcovic argued, the EU is a large, open market with average tariffs on industrial goods equivalent to those of the United States.
The trade commissioner added that in addition to industrial goods, the US and EU need to discuss the current excessively high tariffs, such as Washington's 25% tariff on Brussels' pickup trucks.
According to him, President Trump is focusing largely on the US trade deficit in goods with the EU, totaling $235.6 billion in 2024. However, the White House boss did not mention the country's trade surplus with the bloc.
If we count both goods and services, Washington's trade deficit with Brussels is only about $50 billion, or 3% of the total $1.7 trillion in trade.
In addition to expressing goodwill for negotiations, Mr. Sefcovic announced that the EU will take retaliatory actions if President Trump implements a 25% tariff on cars.
“To protect the bloc’s interests, we have no choice but to respond firmly. However, we do not expect such a scenario to happen. This is the reason I came to the US this week.”
The former Slovak diplomat stressed that the EU saw no suitable reason for the US's sudden unilateral tariff increase, while affirming that the bloc's business activities depended on economic stability and certainty on both sides of the Atlantic.
In addition to trade, EU Commissioner Sefcovic expressed that Brussels wants to discuss the issue of “Big Tech” with the US.
“The majority of customers for US tech companies come from Europe. Of the total revenue that Washington companies generate, 30% to 50% comes from the other side of the Atlantic,” said Mr. Sefcovic.
Source: https://baoquocte.vn/eu-tuyen-bo-san-sang-dam-phan-voi-my-sau-khi-tong-thong-trump-de-doa-ap-thue-o-to-nang-305051.html
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