The President of the United States, Donald Trumpconfirmed the intention to impose New duties on European productsafter having already hit China, Mexico and Canada. Speaking with journalists in Oval studyTrump said: “Europe has treated us very badly. We will certainly impose duties.”
There European Commission reiterates that he is ready to defend European interestsin the face of the threat of the American president, Donald Trump, to introduce duties against EU products. A spokesman for the Commission, questioned in this regard, recalls what has already been affirmed by the President Ursula von der leyen to Davos and from Commissioner to Commerce Maros Sefcovic.
TO DavosVon der Leyen had highlighted: «We want greater cooperation with all those who are open to it. And this obviously includes our closest partners. I obviously think of the United States of America. No other economy in the world is integrated as ours. European companies in the United States employ 3.5 million Americans. And another million American jobs depends directly on trade with Europe. Entire supply chains extend to both banks of the Atlantic. For example, an American plane is built with control systems and carbon fibers from Europe. And American medicines are made with chemicals and laboratory tools that come from our part of the Atlantic. At the same time, Europe imports double the digital services from the United States compared to the entire Asia-Pacific. Of all American goods abroad, two thirds are in Europe. And the United States provide over 50% of our GNL. The volume of exchanges between us is 1.5 trillion euros, which represent 30% of global trade. There is a lot of at stake for both sides. So our first priority will be to engage early, discuss common interests and be ready to negotiate ».
The guidelines of von der leyen they are clear: “We will be pragmatic, but we will always remain faithful to our principles to protect our interests and support our values: this is the European way”.
In the debate to the European Parliament, Sefcovic He confirmed: “It would undoubtedly be advantageous for the EU and the United States to work together on all fronts. So, we will continue to be a strong partner, ready to commit and cooperate as a priority and pursue a positive program with the United States, discussing common interests and remaining ready to negotiate. We will be pragmatic. But the EU will remain faithful to its principles and will be ready to defend its legitimate interests if necessary ».
Which European products could be affected by the new US duties?
The Trump administration has not yet communicated what categories of products On the basis of the previous commercial disputes, the most at risk sectors will be affected are:
- Cars and components (Volkswagen, BMW, Mercedes)
- Agri -food products (cheeses, wine, olive oil, cured meats)
- Aerospace (Airbus and planes components)
- Fashion and luxury (Made in Europe clothing and accessories)
How could the European Union respond?
If Trump should confirm the duties, the EU could respond with retaliation measureslike:
- Duties on American productshitting whiskey, motorcycles and agricultural products.
- Strengthening commercial relations with other countries (China, India, South America).
- Legal actions at the WTO (World Commerce Organization) to contest US rates.
In the past, Brussels has already reacted with targeted duties against products symbol of Made in the USAas happened in the commercial war of 2018.
What will be the consequences for the global economy?
A new commercial war between the USA and the EU would have significant economic repercussions:
- In the United Statesthe prices of many products imported from Europe would increase, damaging American consumers and industries that depend on European components.
- In Europeexports to the US would undergo a serious blow, penalizing key sectors such as luxury, automotive and agri -food.
- Globallyinternational trade would suffer a further slowdown, increasing the risk of a new economic crisis.
Commercial war risk between the USA and the EU?
Trump’s announcement marks a new chapter of tensions in relations between Washington and Brussels. If the United States proceed with the duties, the European Union will be forced to react, triggering a possible commercial war.
In the next few days the declarations of Ursula von der leyen and European leaders to understand what EU strategy will be.