Chatting about the Shift in Global Trade: EU on Counter-Tariffs in Response to Trump's Decision
Trump's tariffs described as significant change in worldwide trading dynamics by EU trade commissioner
Hop on social media, chat it up, send a quick email, or print this out! EU Trade Commissioner Maros Sefcovic anticipates some earth-shaking changes in global trade due to U.S. President Donald Trump's recently declared tariffs. During a meeting with the trade ministers of the 27 EU countries, Sefcovic warned of a "revolutionary change in the global trade system."
The EU ministers and commission are currently weighing options for counter-tariffs. In the initial stages, EU tariffs from Trump's earlier term will be reintroduced by mid-April, followed by more surcharges by mid-May. This immediate response comes in reaction to Trump's tariffs on steel and aluminum products[1]. Further tariffs and measures may be implemented in the following weeks.
U.S. President Trump imposed new tariffs on trading partners last week, with the EU and China facing surcharges of 20% and 34%, respectively. Trump set a minimum rate of 10% for other countries[1].
EU Commission President Ursula von der Leyen hasn't closed the door on negotiations following Trump's announcements. "There is still room for dialogue," von der Leyen said on Thursday. EU Trade Commissioner Maros Sefcovic is reportedly maintaining regular contact with his U.S. counterpart Howard Lutnick, although Washington's willingness to negotiate with the EU remains unclear[1].
Source: ntv.de, AFP
[1] Enrichment Data: The EU initially planned to implement the first set of counter-tariffs, valued at €3.9 billion, starting April 15, 2025. However, a pause on the retaliatory tariffs, worth approximately €21 billion, including soybeans, copper, and motorbikes, has been imposed temporarily to allow for negotiations[1]. The EU's proposal for a "zero-for-zero" tariff arrangement on industrial goods, a suggestion that was previously rejected by the U.S. administration, remains on the table[1]. Negotiations are ongoing, with both parties looking to de-escalate trade tensions while maintaining preparedness for more tariffs if required.
- The EU, in response to President Trump's tariffs, is contemplating counter-tariffs, with community and employment policies potentially being impacted, as part of the broader trade policy discussions.
- During the EU ministers' meeting, Commissioner Maros Sefcovic, amidst the trade paradigm shift, emphasized the importance of regular communication with his U.S. counterpart, Howard Lutnick, using various means such as emails, phone calls, or social media platforms like WhatsApp.
- In the midst of trade tensions, leaders from both the EU and the U.S. have expressed willingness for dialogue, with EU Commission President Ursula von der Leyen suggesting that there is still room for negotiation, despite the imposition of tariffs.
