EU trade chief vows to use ‘every tool’ against US tariffs
According to Commissioner Maros Sefcovic, Washington’s tariffs impact around 70% of the EU bloc’s total exports. The EU is poised to utilize “every tool” available to protect its market from the repercussions of US President Donald Trump’s...
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According to Commissioner Maros Sefcovic, Washington’s tariffs impact around 70% of the EU bloc’s total exports.
The EU is poised to utilize “every tool” available to protect its market from the repercussions of US President Donald Trump’s newly announced tariffs, should negotiations prove unsuccessful, stated Trade Commissioner Maros Sefcovic.
Last week, Trump disclosed that the US would implement levies between 10% to 50% on imports from countries accused of unfair trade practices, with the EU facing a blanket 20% tariff commencing Wednesday.
During a press conference on Monday, Sefcovic described the trade relationship with the EU's largest partner as being in a “tough spot.” He confirmed Brussels' willingness to engage in discussions but emphasized that they “will not wait endlessly.”
Sefcovic cautioned that the new tariffs would impact a “significant portion” of EU exports, revealing that around €380 billion worth of goods—approximately 70% of the bloc’s total exports to the US—are now subject to duties of 20% or more.
The additional charges would surpass €80 billion, in contrast to the €7 billion currently collected by Washington, he added.
“We are prepared to use every tool in our trade defense arsenal to protect the EU Single Market, EU producers, and EU consumers,” Sefcovic remarked.
He also highlighted that European Commission President Ursula von der Leyen had proposed a “zero-for-zero” tariff arrangement on cars and industrial goods to alleviate the situation.
According to Sefcovic, the Commission has organized a “robust list of countermeasures” that will be voted on April 9 and officially adopted on April 15. The initial set of retaliatory duties will take effect on that date, with a second wave scheduled for May 15.
Trump has characterized his ‘Liberation Day’ tariffs as an effort to balance global trade, alleging that other countries are “ripping off” the US through “harmful policies.”
He contended that the EU’s total tariffs on US goods total 39% and asserted that American businesses incur over $200 billion annually in value-added taxes throughout Europe.
Von der Leyen referred to the tariffs as a “major blow to the world economy.” Following the tariff announcement, global stock markets experienced a decline, which intensified on Monday.
In defense of his decision, Trump wrote on Truth Social on Monday that the tariffs were generating substantial economic benefits.
Lucas Dupont for TROIB News
The EU is poised to utilize “every tool” available to protect its market from the repercussions of US President Donald Trump’s newly announced tariffs, should negotiations prove unsuccessful, stated Trade Commissioner Maros Sefcovic.
Last week, Trump disclosed that the US would implement levies between 10% to 50% on imports from countries accused of unfair trade practices, with the EU facing a blanket 20% tariff commencing Wednesday.
During a press conference on Monday, Sefcovic described the trade relationship with the EU's largest partner as being in a “tough spot.” He confirmed Brussels' willingness to engage in discussions but emphasized that they “will not wait endlessly.”
Sefcovic cautioned that the new tariffs would impact a “significant portion” of EU exports, revealing that around €380 billion worth of goods—approximately 70% of the bloc’s total exports to the US—are now subject to duties of 20% or more.
The additional charges would surpass €80 billion, in contrast to the €7 billion currently collected by Washington, he added.
“We are prepared to use every tool in our trade defense arsenal to protect the EU Single Market, EU producers, and EU consumers,” Sefcovic remarked.
He also highlighted that European Commission President Ursula von der Leyen had proposed a “zero-for-zero” tariff arrangement on cars and industrial goods to alleviate the situation.
According to Sefcovic, the Commission has organized a “robust list of countermeasures” that will be voted on April 9 and officially adopted on April 15. The initial set of retaliatory duties will take effect on that date, with a second wave scheduled for May 15.
Trump has characterized his ‘Liberation Day’ tariffs as an effort to balance global trade, alleging that other countries are “ripping off” the US through “harmful policies.”
He contended that the EU’s total tariffs on US goods total 39% and asserted that American businesses incur over $200 billion annually in value-added taxes throughout Europe.
Von der Leyen referred to the tariffs as a “major blow to the world economy.” Following the tariff announcement, global stock markets experienced a decline, which intensified on Monday.
In defense of his decision, Trump wrote on Truth Social on Monday that the tariffs were generating substantial economic benefits.
Lucas Dupont for TROIB News
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