EU trade chief says bloc will respond swiftly to US tariffs
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Mr Sefcovic said the EU sees no justification for sudden, unilateral tariff increases by the US.
PHOTO: AFP
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WASHINGTON - The European Union will respond “firmly and swiftly” to protect its interests if Washington imposes tariffs on the bloc’s goods, its trade chief said on Feb 19, rejecting US President Donald Trump’s claim that US-EU trade ties are unfair.
“It is the very definition of a win-win partnership, and there is nothing unfair about it,” Mr Maros Sefcovic said in Washington, as Europe girds for heightened tariff tensions with the US.
But he signalled the EU’s willingness for dealmaking, such as the possibility of reducing or eliminating tariffs on vehicles and other products.
“If we are going to talk about lowering the tariffs, even eliminating the tariffs, let’s say for industrial products, this would be something which we are ready to discuss,” he told an audience at the American Enterprise Institute.
“We are ready to go for it,” he said ahead of talks with his US counterparts.
He was due to meet partners including US Commerce Secretary Howard Lutnick and US Trade Representative nominee Jamieson Greer.
Mr Sefcovic said he was keen on discussing US concerns and working towards a “solid package”.
He added that the EU sees “no justification for sudden, unilateral tariff increases” by the US, adding that businesses rely on economic stability and predictability.
If the US imposed tariffs on EU products, this would create unnecessary barriers to exports, businesses and workers on both sides of the Atlantic, said Mr Sefcovic, who is European Commissioner for Trade and Economic Security.
“To protect European interests, we will have no choice but to respond firmly and swiftly,” he added.
He stressed that the bloc will do its best to avoid such an outcome, adding that both parties have to be responsible in dealing with each other.
Mr Sefcovic noted that the EU-US economic relationship represents nearly 30 per cent of global trade.
He added that the EU is “one of the most open economies in the world, with over 70 per cent of imports entering at zero-tariff”.
Mr Sefcovic’s trip comes after Mr Trump threatened sweeping “reciprocal tariffs” on allies and adversaries, taking aim at the EU for being “absolutely brutal” in trade ties with the US.
The levies would be tailored to each US trading partner and consider the tariffs they impose on American goods, alongside taxes seen as discriminatory, such as value-added taxes, according to the White House.
While Washington has taken aim at the EU’s higher tariff rate on vehicles, Mr Sefcovic added that US tariffs are higher in sectors like agricultural products.
Germany’s car lobby on Feb 19 warned that Mr Trump’s threatened tariffs would hike costs for US drivers, after the President signalled that he could raise levies on imports of cars, semiconductors and pharmaceuticals.
Already, Mr Trump has imposed an additional tariff on Chinese goods and unveiled sweeping duties on imports of steel and aluminium
