EU to respond with retaliatory measures if Trump imposes tariffs
Donald Trump (photo: Getty Images)
Recently, US President Donald Trump said that the United States would impose duties on goods from the EU. In response, the European Union said it would "respond firmly" if this happens, Bloomberg reports.
The European Commission and EU member states will discuss this possibility on Tuesday at a meeting of trade ministers in Warsaw.
A commission spokesperson said that at this stage the European Union was not aware of the introduction of additional duties on EU products, emphasizing that trade and investment relations with the United States are the largest in the world. He noted that the use of duties was "hurtful on all sides," and the EU regrets Trump's decision to impose them on Canada, Mexico, and China.
"The EU would respond firmly to any trading partner that unfairly or arbitrarily imposes tariffs on EU goods. There is a lot at stake," the European Commission spokesperson said.
It is worth noting that German Chancellor Olaf Scholz said that it is important not to divide the world with new trade barriers, as everyone benefits from globalization. At the same time, reacting to Trump's words, the German Chancellor said that the European Union has "scope for action" as a major economic power.
"We will try to continue economic relations together with the perspective of cooperation and collaboration," Scholz emphasized.
Trump's tariffs
Yesterday, the US President signed a decree imposing a 25% duty on goods from Canada and Mexico and a 10% tariff on imports from China. The decision is set to take effect on Tuesday, February 4, affecting a wide range of goods.
Canada and Mexico said they would retaliate. In particular, Canadian Prime Minister Justin Trudeau said that Ottawa will impose a 25% duty on US goods worth $106 billion. Beijing also promised to take appropriate countermeasures in response.
