Following customs announcements to China, Canada and Mexico, Donald Trump stated that "agreement" would hit Europe with trade restrictions. However, he did not indicate details.
On Monday, a summit of EU leaders began, on which possible US duties were 1 of the topics. "If we are attacked on commercial issues, a Europe that considers itself a power, She'll gotta react. said the president of France Emmanuel Macron.
Trump stresses that the EU has the largest trade deficit with the United States. It besides demands that the Community countries increase their defence spending. Otherwise, it risks withdrawing the safety guarantees that the US has provided Europe since the end of planet War II.
The Union shall prepare a contingency plan.
During the EU summit, Macron pointed out that Europe should advance its own products more. He added that the Union would be more independent if it implemented more purchases of products created on the Old Continent.
“Financial Times” reveals that European Commission She's prepared a set. "potential retaliatory measures"which may be utilized in the event of Trump's imposition of duties. Details are kept secret so as not to provoke the president of the United States.
SEE: Return on Trump's decision. U.S. withholding duties
Head of EU diplomacy Kaja Kallas acknowledges that the Union ‘prepares its own side’ to the US customs application scenario.
‘FT’ cites 2 anonymous officials who talk about the developed ‘contingency plan’. “We are ready to act if needed,” 1 of them emphasizes.
A war of commerce. Bad for both sides
Any EU consequence besides suggested Olaf Scholz. “As a strong economical area, we can form our own affairs and we can besides respond to customs policy,” said the German Chancellor.
SEE: "A full misunderstanding". Tusk comments on Trump's announcement
He besides added that a trade war would be "bad for the US and bad for Europe", but in his view this script will lead to greater EU efforts to include new free trade agreements with another parts of the world.
"Frightening policy". Deputy Minister for Trump's announcements
Bogdan Rymanowski besides discussed the hazard of introducing US tariffs to the Union in "Guest of Events".
– We request to prepare for a possible script (introduction of customs – ed.). Donald Trump has a tough policy. If it does not accomplish its objectives through negotiations, it goes on to implement its announcements. Now there's area for diplomacy. Not only EU, but besides national. Unfortunately, I fear that after all the bad words that have been said by Prime Minister Tusk, Minister of Sikorski (...), the effectiveness of Polish diplomacy may be limited – assessed Marcin Policz from the PiS.
VIDEO: Marcin Przycz and Katarzyna Lubnauer on the hazard of trade war with the US
– Customs war serves no 1 – the Deputy Minister of Education replied Catherine Lubnauer. "The problem is that the United States actually has a trade deficit with most countries. Indeed, it is most dramatic in China. For the EU, too, it is clear (...), she continued.
SEE: Negotiations on the end of the war are getting closer? Trump talks about progress
– War (trade – ed.) will not primarily service customers. On both sides of the ocean. That means Price increase, anticipation of higher inflation. I'm certain to a large degree it is Threatening policy – indicated the politician KO.
== sync, corrected by elderman ==
