EU Response to US Trade Relations
WASHINGTON (Reuters) – The EU prefers a negotiated solution with the US regarding trade but will resort to countermeasures if discussions fail, stated European Union Commissioner for the Economy, Valdis Dombrovskis, in Washington on Wednesday.
During the IMF and World Bank spring meeting, Dombrovskis mentioned the EU’s readiness to purchase more US LNG and decrease tariffs on specific goods, while seeking clarity on US expectations.
He emphasized the EU’s commitment to its vital partnership with the US, which encompasses an economic and trade relationship valued at $9.5 trillion. “The EU stands by its existing partnerships and intends to deepen them, but we will also forge new partnerships worldwide to enhance our economic security,” he noted.
Dombrovskis affirmed that the EU will remain a consistent and dependable trading partner. The 27-member bloc has trade agreements with 76 countries and recently engaged in negotiations for enhanced partnerships with Mexico, Switzerland, and Mercosur nations, while also pursuing discussions with India, Thailand, the Philippines, Indonesia, and the UAE.
These agreements aim to create mutually beneficial, reliable, and rules-based partnerships. EU officials have adopted a measured tone toward US President Trump’s sharp critiques of US-EU trade, emphasizing the need for stable trade relations.
On April 10, the EU postponed its first countermeasures against Trump’s tariffs for 90 days, although President Ursula von der Leyen indicated that all options for countermeasures remain open.
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