EPA
The EU’s trade head emphasized that the 27-member bloc is dedicated to securing a trade agreement with the US, prioritizing “respect” over “threats.”
This statement follows US President Donald Trump’s warning about a potential 50% tariff on all goods imported from the EU.
“The EU is fully engaged and committed to a deal that benefits both sides,” said EU Trade Commissioner Maros Sefcovic after discussions with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick.
“Trade between the EU and US is unparalleled and must be managed with mutual respect, not threats. We are prepared to defend our interests.”
Earlier that same Friday, Trump expressed frustration over the slow pace of EU-US trade negotiations, indicating that his proposal to increase tariffs on June 1 would proceed as planned.
On social media, Trump remarked: “Our talks with [the EU] are unproductive,” clarifying there would be no tariffs on products manufactured in the US.
“I’m not seeking a deal – we’ve established the terms,” he informed reporters, although he added that a significant investment in the US by a European company could lead him to reconsider.
According to US government data, the EU is one of Washington’s main trading partners, with over $600bn (€528bn; £443bn) worth of goods exported in the previous year and $370bn worth imported.
In response to Trump’s threats, European leaders cautioned that increased tariffs would adversely impact both regions.
“We must avoid this path,” stated Ireland’s Taoiseach (Prime Minister) Micheál Martin. “Negotiations are the only viable and sustainable solution.”
France’s Foreign Minister Laurent Saint-Martin emphasized: “Our stance remains the same: de-escalation, while being prepared to react.”
German Economy Minister Katherina Reiche asserted, “We must strive for the European Commission to arrive at a negotiated resolution with the United States.”
Dutch Prime Minister Dick Schoof expressed support for the EU’s approach in trade negotiations, noting that tariff fluctuations have occurred before in talks with the United States.
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In early April, Trump declared tariffs on a wide array of countries, including a hefty 20% duty on most EU imports to the US.
Shortly after, he postponed the elevated tariffs for three months, until July 8, to facilitate further negotiations, while maintaining a 10% baseline tax against US trading partners.
Trump’s grievances regarding Europe primarily revolve around claims of an imbalanced trade relationship, where the EU exports more goods to the US than it imports.
He attributes the trade deficit to policies he perceives as unjust towards American businesses, particularly highlighting issues related to automotive and agricultural sectors.
Trump also cautioned Apple about implementing a 25% import tax “at the very least” on iPhones that aren’t produced in America, extending the potential threat to all smartphones.
On Friday, stock prices in both the US and EU declined following the latest tariff threats, with the S&P 500 falling approximately 0.7% and Germany’s DAX and France’s CAC 40 dropping over 1.5% at the day’s end.