Delfi: “Customs are unfortunate, they harm our economies and ours” – Minister Budrys

On 7 April in Luxembourg, Minister of abroad Affairs of Lithuania Kęstutis Budrys attended the gathering of the Council on abroad Affairs of the European Union on trade matters.

The gathering focused on current trade relations with the United States: changes in tariff regulations, possible EU remedies and mitigation measures.

‘The duties are unfortunate. They harm our economies, our businesses and our citizens," said the minister before the meeting. According to Budrys, duties will lead to price increases and inflation. "That is why we must look for solutions to our trade with the United States. We should avoid the immediate application of escalation measures, even if the EU has this option ready."

‘This is not good for either side. Trade between the US and the EU and common investment are the largest in the world. Both sides are suffering from the global trade deficit and China's policy towards us. There are so natural grounds for establishing common interests and negotiating a good solution," said the Minister.

Budgets stressed the request for Europe to search measures to mitigate the impact of duties on business, and 1 way to strengthen EU manufacture is to increase defence spending and to seriously consider diversifying trade relations and seeking fresh markets. The head of Lithuanian diplomacy stressed that unity in this situation is the strength of the EU. According to the Minister, the Union is united and ready to defend the interests of all Europeans.

Source: Delfi.lt

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