[🇺🇸] USA and EU Trade War

[Saif]

Date of Event: Feb 4, 2025 Source : https://www.newagebd.net/post/europe/257080/eu-vows-retaliation-if-trump-starts-trade-war

EU vows retaliation if Trump starts trade war
Agence France-Presse . Brussels, Belgium 03 February, 2025, 22:52

NATO secretary general Mark Rutte (C) speaks with French president Emmanuel Macron (CR) during an informal EU leaders’ retreat at the Palais d’Egmont in Brussels on Monday. | AFP photo

EU leaders meeting in Brussels Monday warned there would be no winners in a trade war with the United States, insisting they would hit back if US president Donald Trump imposes tariffs.

French president Emmanuel Macron said the European Union must show its muscle if US president Donald Trump makes good on his threat to target the bloc with a volley of tariffs.

‘If we are attacked in terms of trade, Europe—as a true power—will have to stand up for itself,’ Macron said.

The leaders of the EU’s 27 nations were huddling in the Belgian capital with Britain’s prime minister and the head of NATO to discuss efforts to boost Europe’s defences faced with an aggressive Russia—as Trump’s demands that American allies spend much more. But the discussions were overshadowed by the US leader’s decision to slap tariffs on Canada, Mexico and China—with Trump threatening to target EU next.

Poland’s prime minister Donald Tusk, whose country currently holds the EU presidency, said everything must be done to avoid a ‘totally unnecessary and stupid’ trade war.

Trump has not hidden his enmity for the EU, accusing it of treating the United States ‘very, very unfairly’ on trade.

After slapping levies on his North American neighbours and China, Trump doubled down on Sunday by saying he ‘definitely’ planned to target the EU in future.

German chancellor Olaf Scholz said a trade dispute would be ‘bad for the US, bad for Europe’, with transatlantic ‘cooperation’ preferable for both sides.

‘We can also react,’ he added, veering from Germany’s traditionally cautious approach to transatlantic trade relations.

‘We need America, and America needs us as well,’ echoed the EU’s top diplomat, Kaja Kallas, adding there were ‘no winners in trade wars’.

On Sunday, the European Commission said it would retaliate ‘firmly’ if Trump hit it and decried his sweeping measures against Canada, Mexico and China.

‘Tariffs create unnecessary economic disruption and drive inflation. They are hurtful to all sides,’ a commission spokesman said.

Up until then Brussels had said it hoped to avoid a trade conflict with Trump through negotiation.

Later European Council chief Antonio Costa held a night phone call with Canadian Prime Minister Justin Trudeau.

‘Both leaders underscored the importance of the EU-Canada bilateral relationship and confirmed their determination to continue to working together,’ an EU official said.

Since Trump was re-elected in November, Brussels has been working to diversify its trading partnerships, announcing in recent weeks both a strengthened trade deal with Mexico and the resumption of talks on a free trade deal with Malaysia.

Back in 2018, during his first term, Trump imposed tariffs on European steel and aluminium exports—leading the EU to respond with its own higher duties.​

 

[Bilal9]

I am watching in awed animation as this idiot ruins every ally relationship one by one and hastens the decline of America. I am afraid for the next generation of Americans.

What kind of irresponsible Ullu-ka-paththa would do this?

 

[Saif]

EU wants early US talks to avert Trump tariffs

The European Union wants to engage swiftly with the United States over President Donald Trump's planned tariffs, trade chief Maros Sefcovic said on Tuesday, while his boss Ursula von der Leyen stressed the bloc would protect its interests in negotiations. Sefcovic, speaking before a meeting of EU

thefinancialexpress.com.bd

EU wants early US talks to avert Trump tariffs
REUTERS
Published :
Feb 04, 2025 18:45
Updated :
Feb 04, 2025 18:45

Maros Sefcovic, the nominee to become the European Union's trade and economic commissioner, attends a confirmation hearing before the European Parliament's international trade and constitutional affairs committees, in Brussels, Belgium November 4, 2024. REUTERS/Johanna Geron, in Brussels, Belgium November 4, 2024. Photo : REUTERS/Johanna Geron/Files

The European Union wants to engage swiftly with the United States over President Donald Trump's planned tariffs, trade chief Maros Sefcovic said on Tuesday, while his boss Ursula von der Leyen stressed the bloc would protect its interests in negotiations.

Sefcovic, speaking before a meeting of EU ministers to debate trade and EU competitiveness, said he wanted "early engagement" and was awaiting confirmation of the appointment of Trump's pick for Commerce Secretary, financier Howard Lutnick.

"We are ready to engage immediately and we hope that through this early engagement, we can avoid the measures which would bring a lot of disturbance to the most important trade and investment relationship on this planet," he told reporters.

Von der Leyen, the European Commission president, said the EU executive's first priority was to work on the many areas where EU and US interests converge, such as critical supply chains and emerging technologies.

In a speech in Brussels, she said the EU was ready for tough negotiations to work out grievances and set the foundations for a stronger partnership.

"We will be open and pragmatic in how to achieve that. But we will make it equally clear that we will always protect our own interests – however and whenever that is needed," Von der Leyen said.

EU officials say contacts with the Trump administration have been limited so far, noting that Trump's picks for top jobs are not able to speak to foreign counterparts until their positions have been confirmed. Von der Leyen and Trump have not been in contact since Trump's inauguration.

The EU meeting in Warsaw started just a few hours after additional US tariffs of 10 per cent on Chinese goods took effect, prompting China to hit back. Canada and Mexico were also in line for 25 per cent US tariffs on Tuesday, but each secured a 30-day pause.

Trump has said the European Union is next in line. He has repeatedly complained about the US trade deficit with the 27-country EU.

Sefcovic said that deficit, including services trade, was around 50 billion euros, or around 3.0 per cent of overall annual EU-US trade of 1.5 trillion euros, while 4 million jobs on both sides of the Atlantic were reliant on this open trading relationship.

"We believe through constructive engagement and discussion we can resolve this problem," he said.

Sefcovic did not go into how the bloc might negotiate, but some ministers offered advice on the EU approach.

Luxembourg foreign minister Xavier Bettel, who was prime minister during Trump's first term, said the EU needed to be united and strong and not begin negotiations with concessions.

"This is not the Marrakech souk," he said. "We don't offer. We listen, we exchange, we say things. We don't offer."

Irish trade minister Peter Burke also said it was not worthwhile at this point to make offers.​