The European Union is ready to deploy "every tool" at its disposal to shield its market from the effects of new US tariffs, Trade Commissioner Maros Sefcovic has warned. This comes after US President Donald Trump announced tariffs ranging from 10% to 50% on imports from countries accused of unfair trade practices. The EU, facing a blanket 20% tariff, has been given a tight deadline, with the new levies set to begin on Wednesday.
Sefcovic described the EU-US trade relationship as being in a "tough spot" but emphasized that Brussels remains open to talks. However, he stressed that the EU would not wait indefinitely for resolution. He warned that the new tariffs would impact approximately 70% of the EU's total exports to the US, worth around €380 billion ($410 billion), all now facing duties of 20% or higher.
In response, Sefcovic outlined the EU’s readiness to implement countermeasures, with retaliatory duties expected to take effect on April 15, and a second wave following on May 15. The European Commission has already prepared a “robust list” of these measures, which will be voted on April 9. Sefcovic also mentioned European Commission President Ursula von der Leyen’s proposal for a “zero-for-zero” tariff deal on cars and industrial goods, aimed at de-escalating the situation.
Trump has framed the tariffs, which he calls “Liberation Day” tariffs, as a means to restore balance to global trade. He accused countries like the EU of exploiting the US, citing high levies on US goods and value-added taxes that cost American firms over $200 billion annually. However, von der Leyen described the tariffs as a "major blow to the world economy," as stock markets around the globe took a hit after the announcement. Trump, undeterred, defended the tariffs, claiming they were delivering significant economic gains.
Source: RT
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