Brussels (Brussels Morning Newspaper) – The European Union reacted hard against allegations by U.S. President Donald Trump that the EU was out to get the US and cautioned that it would vigorously oppose any wholesale tariff of 25% on all EU products.
European Union retaliation came after Trump told journalists that
“the European Union was formed in order to screw the United States. That’s the purpose of it, and they’ve done a good job of it,”
Saying that it would cease immediately under his presidency.
The EU warned that the second the tariffs would be announced, it would lead to tough countermeasures, on iconic U.S. industries like jeans, bourbon and motorcycles.
How is the EU responding to Trump’s tariff threat?
“The EU will react firmly and immediately against unjustified barriers to free and fair trade,”
European Commission trade spokesman Olof Gill stated.
“We will also protect our consumers and businesses at every turn. They expect no less from us.”
Gill also responded to Trump’s caustic remarks on the inception of the EU and its development as an economic powerhouse.
“The European Union is the world’s largest free market. And it has been a boon for the United States,”
He stated, saying that the EU has
“facilitated trade, decreased costs for U.S. exporters, and harmonised standards and regulations,”
Which makes it more comfortable for U.S. exporters.
How much trade do the EU and US conduct annually?
The EU calculates that the trade volume between both flanks stands at approximately $1.5 trillion, representing about 30% of global trade. Trump has whined about a trade deficit, but while the EU has a substantial export surplus in goods, the European Union states that it is partly balanced by the U.S. surplus in the trade of services.
The EU further says that trade in goods increased to 851 billion euros in 2023, with a trade surplus of 156 billion euros for the European Union. Trade in services was valued at 688 billion euros with a trade deficit of 104 billion euros for the European Union.
“We should work together to preserve these opportunities for our people and businesses. Not against each other,”
Gill stated.
“Europe stands for dialogue, openness and reciprocity. We’re ready to partner if you play by the rules.”
