EU says it will make strong case for US tariff cuts this week

Free Malaysia Today

2 days ago

The EU has said it strongly regrets the planned doubling of steel tariffs. (EPA Images pic)
BRUSSELS : The European Commission said today it would make a strong case this week for the US to reduce or eliminate tariffs, even after Donald Trump said he would double import duties on steel and aluminium to 50%.
European trade commissioner Maros Sefcovic will meet US trade representative Jamieson Greer at an OECD gathering in Paris on Wednesday, while commission technical teams will be in discussions with counterparts in Washington this week.
The commission, which oversees trade policy for the 27-nation EU, said it was prioritising negotiations to resolve the conflict.
'We don't want to go down the route of tariffs. Rather than have them increase, we want them to decrease and, where possible eliminate them,' a commission spokesman told a press conference today.
'That remains the case, that remains our priority. We will be making that case strongly both at technical level and at political level this week,' the spokesman said.
The EU has said it strongly regrets the planned doubling of steel tariffs.
The EU currently faces 25% tariffs on steel and cars and for Trump and 'reciprocal' tariffs on most EU goods, which were provisionally set at 20% for the EU but is being held at 10% during a 90-day pause until July.
The EU imposed, but immediately suspended, a first set of counter tariffs on €21 billion (US$24 billion) of annual US imports package in response to US metals duties.
It is also weighing a response to the US car and broader tariffs that would hit up to €95 billion of US imports.
The commission said that, in the absence of a mutually acceptable solution, these countermeasures would take effect automatically on July 14, or earlier if circumstances require.