The European Union is taking a firm stance in response to the latest tariffs imposed by the United States on EU goods, while keeping the door open for negotiations, according to Maros Sefcovic, European Commissioner for Trade and Economic Security.
Following an emergency meeting of the Foreign Affairs Council on Trade, Sefcovic confirmed that the tariffs, which now impact €380 billion ($416.8 billion) worth of EU exports, are set at levels ranging from 20% to over 25%.
Sefcovic acknowledged the difficulty of the current trade relationship with the US, describing it as being "in a tough spot." However, he emphasized that the EU is focused on initiating meaningful talks with the US, and that communication with US officials has remained open and transparent.
“We both face shared challenges, including global overcapacity, semiconductor competition, and access to critical minerals. If we work together, we could create a truly Trans-Atlantic marketplace that benefits both sides,” he said, underscoring the EU's commitment to collaboration.
He also mentioned that the EU had already made a significant offer by eliminating tariffs on cars and all industrial goods. Despite this, Sefcovic warned that engaging with the US on these matters would require time and effort, given that the US sees tariffs as not just a tactic but a corrective measure. Therefore, negotiations are still in their early stages.
While the EU continues to prioritize dialogue, Sefcovic made it clear that the EU will not wait indefinitely for tangible progress. “We will not wait endlessly until we see progress,” he stated, reaffirming the bloc’s readiness to act decisively on three fronts.
First, the EU will defend its interests with countermeasures, with a retaliatory tariff list already prepared, including exact tariff levels, which will be presented to EU countries for a vote on April 9. The duties will be implemented in two phases, starting on April 15 and May 15.
Second, the EU is working to diversify its trade relationships, with a focus on strengthening ties with countries such as India, Indonesia, Thailand, the Philippines, and nations in the Gulf region. Sefcovic expressed a desire to accelerate free trade agreement negotiations with these countries.
Third, the EU plans to prevent harmful trade diversions by enhancing its import surveillance system, which will allow it to respond swiftly to changes in global trade dynamics and protect the single market, EU producers, and consumers.
Sefcovic also reiterated the EU’s commitment to the global trade system, particularly as the US has stepped back from some of its obligations. “The EU represents 13% of global goods trade, and our priority, along with the rest of the WTO, is to protect the remaining 87% and ensure that the global trade system prevails for the rest of us,” he said.
On China, Sefcovic shared insights from his recent trip to Beijing, focusing on making the EU-China trade relationship more balanced. The discussions covered issues such as overcapacity, unfair subsidies, and market access barriers, with particular attention given to Chinese investment in Europe’s electric vehicle sector.
Sefcovic concluded by highlighting the importance of customs cooperation, with 91% of e-commerce packages entering the EU from China. “This was an important first step in putting our engagement with China on the right track,” he said.
Ukrainian drone strikes have hit two Yandex data centres in Russia on consecutive days, disrupting digital services as Kyiv intensifies attacks on ...
The U.S. has imposed sanctions on the International Criminal Court (ICC) on Friday (9 October) escalating ...
Uzbekistan has unveiled plans to deepen economic ties with Central Asia and Azerbaijan, proposing shared artificial intelligence infrastructure, a ...
Leaders of countries from the Commonwealth of Independent States (CIS) have agreed to hold coordinated population censuses around 2030. They took the decision at the CIS Council of Heads of State meeting in Awaza, Turkmenistan on Friday, media reported.
The Saudi-led coalition says it has carried out a series of military operations against Houthi targets in Yemen after attacks on two Saudi airports left three people dead and dozens injured.
Azerbaijan and the five Central Asian states have signed two key documents at the 8th Consultative Meeting of Heads of State in Turkmenbashi, formalising a broader framework for regional cooperation in transport, trade, energy, digitalisation and security.
It started with classrooms. Too many students, not enough teachers, deteriorating buildings and growing anxiety over what comes after high school. But within weeks, a movement that began outside French lycées had spread across the country.
Britain and Israel have reached a temporary compromise over the future of the British Consulate General in East Jerusalem, easing a diplomatic dispute that had threatened to further strain relations between the two countries.
Ukrainian drone strikes have hit two Yandex data centres in Russia on consecutive days, disrupting digital services as Kyiv intensifies attacks on Russia's digital infrastructure.
The U.S. has imposed sanctions on the International Criminal Court (ICC) on Friday (9 October) escalating tensions with European allies and potentially targeting companies that provide services to the tribunal. The move came hours after former ICC judge Navi Pillay won the Nobel Peace Prize.
Azerbaijan has made history at the 2026 World Judo Championships in Baku, claiming a record five medals and climbing to second place in the standings behind Japan as more than 620 athletes from over 90 countries compete in the Azerbaijani capital.
Student protests are gaining momentum across France over worsening school conditions, as online calls for nationwide demonstrations on 17 October raise the prospect of wider unrest.
Riot police used water cannon and tear gas to disperse protesters in Brussels on Friday, 9 October, as students joined workers in a nationwide strike against government austerity measures and spending cuts.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment