Any trade deal with US must be based on respect not threats', says EU commissioner
Maros Sefcovie's remarks come after pace of talks prompted Trump to propose 50% tariff on goods from bloc
The European Union's trade commissioner has stated that any potential trade deal between the EU and the United States must be based on 'respect not threats'.
This comes after the US President announced plans to impose a 50% tariff on all goods from the EU, effective June 1. The move follows frustration with the pace of progress on a trade agreement.
The EU trade commissioner emphasized the importance of mutual respect in negotiations and the need to defend EU interests.
The US President had previously expressed dissatisfaction with the EU's approach to trade, claiming a $250m annual trade deficit and stating that discussions were 'going nowhere'.
However, he also suggested that a significant investment in the US by a European company could lead to a delay in implementing tariffs.
The EU is one of the US's largest trading partners, with over $600bn in goods sent to the US last year and $370bn worth of goods purchased from the US. Existing tariffs include a 25% import tax on steel, aluminium, and vehicle parts, with threats to impose similar measures on pharmaceuticals, semiconductors, and other goods.
Additionally, the US President proposed a 25% levy on all Apple and Samsung phones bought by US customers, effective at the end of June.
European politicians have expressed disappointment at the news of further tariffs, emphasizing the need for de-escalation and a 'zero-for-zero tariffs' approach.
The Dutch prime minister has backed the EU's strategy in trade talks, while the Irish taoiseach described the suggested tariffs as 'extremely disappointing'.
The head of the EU's trade committee has threatened to apply counter-tariffs against the US if negotiations are unsuccessful.
This comes after the US President announced plans to impose a 50% tariff on all goods from the EU, effective June 1. The move follows frustration with the pace of progress on a trade agreement.
The EU trade commissioner emphasized the importance of mutual respect in negotiations and the need to defend EU interests.
The US President had previously expressed dissatisfaction with the EU's approach to trade, claiming a $250m annual trade deficit and stating that discussions were 'going nowhere'.
However, he also suggested that a significant investment in the US by a European company could lead to a delay in implementing tariffs.
The EU is one of the US's largest trading partners, with over $600bn in goods sent to the US last year and $370bn worth of goods purchased from the US. Existing tariffs include a 25% import tax on steel, aluminium, and vehicle parts, with threats to impose similar measures on pharmaceuticals, semiconductors, and other goods.
Additionally, the US President proposed a 25% levy on all Apple and Samsung phones bought by US customers, effective at the end of June.
European politicians have expressed disappointment at the news of further tariffs, emphasizing the need for de-escalation and a 'zero-for-zero tariffs' approach.
The Dutch prime minister has backed the EU's strategy in trade talks, while the Irish taoiseach described the suggested tariffs as 'extremely disappointing'.
The head of the EU's trade committee has threatened to apply counter-tariffs against the US if negotiations are unsuccessful.
