EU Commission head discusses U.S. tariff response with auto, steel and pharma executives
BRUSSELS/LONDON (Reuters) - European Commission President Ursula von der Leyen held a call with metals industry representatives on Monday and was speaking to the automobile sector later to discuss how to respond to U.S. tariffs, sources and a letter showed.
The calls aimed to collect more data to strategise further trade counter-measures beyond Brussels' upcoming response to Washington's previously announced steel duties, which will be voted on later this week. A third call with the European pharmaceuticals industry is planned for Tuesday.
Asian equity markets sank, European shares crashed to a 16-month low and oil prices plummeted on Monday as investors feared the duties Trump announced last week could lead to higher prices, weaker demand and potentially a global recession.
Von der Leyen's invitation letter said the EU would later this year propose "a trade measure replacing the steel safeguards as of 1 July 2026, providing a highly effective level of protection against negative trade-related effects caused by global overcapacities".
"The views from the sector will be key in further elaborating our common response to the U.S. tariffs," she added.
The call with the European auto industry was scheduled for 3:30 p.m. (1330 GMT), according to ACEA, the industry group in Brussels.
A spokesperson for ACEA said the Commission wanted to 'gather [industry] analysis on the possible impact of U.S. tariffs on the EU automotive sector and to explore proposals for the most effective EU response'.
The group have requested a negotiated solution, the spokesperson added.
The call was set to include lobby groups as well as CEOs and chairs from BMW, Volkswagen, Stellantis, Scania, Daimler Truck and Bosch.
Late last week, the European Commission initially invited the chief executives of EU-headquartered big pharma companies for a meeting, three industry sources familiar with the matter told Reuters.
A fourth source said the Commission may have later extended invitations to Swiss-based firms such as Novartis and Roche. Reuters was not immediately able to confirm this. Roche declined to comment.
The European big pharma trade lobby EFPIA and the European biotech lobby group Europabio both confirmed to Reuters that their respective directors general are attending.
An invitation letter received by a participant said the meeting was scheduled for 10:30 a.m. (0830 GMT) on Tuesday.
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