Washington (Brussels Morning Newspaper) – European trade commissioner Maros Sefcovic said that his highest priority in trade discussions with President Donald Trump’s government is to avoid a course of economic pain for both flanks from unilateral U.S. tariffs and European Union countermeasures.
EU trade chief stated that reciprocity in tariffs should apply to both the EU and the US. With the United States preparing “reciprocal tariffs,” the EU is ready to engage, Sefcovic said.
We will be ready to look (at) how we can lower the import duties for all industrial products,
he said.
How does Sefcovic propose achieving tariff reciprocity with the US?
Sefcovic emphasized that if the US were seeking reciprocity, “it must work for both” sides.
During Sefcovic’s three-day Washington visit for discussions with US officials and business leaders, he defended against Trump’s claim of unfairness in US-EU trade relations.
He briefed reporters that one of his requests was to witness a delay in US tariffs as both groups discussed their circumstances. He expressed his impression that the United States, too, would be “ready to consider” a decline in its tariffs.
Why is the EU concerned about unilateral US tariffs?
Although the EU has higher tariffs for personal vehicles, Sefcovic noted that the United States protects other areas like pick-up trucks.
While we protect European interests, we seek constructive dialogue to avoid unnecessary pain of measures and countermeasures,
he told reporters in Washington.
How could transatlantic cooperation tackle global overcapacity issues?
EU and the US understand that they share joint challenges such as “global over-capacities driven by non-market practices” — a concern involving China — he expressed. He said it would be good if the transatlantic allies could prevent global overcapacity together. He also voiced optimism that the EU could reduce US concerns regarding the trade deficit between both flanks.
The European Union requires more LNG as it phases out Russian gas, he stated, saying that this is a domain where both can cooperate. If the European Union had to settle a 50 billion euro trade gap with the US, he stated, “we can really do it, if we put our mind to it,” saying that this could be accomplished “relatively quickly.”
A day earlier, Sefcovic said at the US Enterprise Institute that the European Union noticed “no justification for sudden, unilateral tariff increases” by the US. But if the US followed through with imposing tariffs, he cautioned that the EU would “have no choice but to respond firmly and swiftly.”
Additionally, he has threatened levies concerning specific sectors like imports of automobiles, pharmaceuticals and semiconductors.
