Alex Trelinski
THE European Union has promised to react immediately if US President Donald Trump introduces tariffs that match those of America’s trade partners.
Trump on Thursday signed a memo for imposing reciprocal tariffs on goods, based on what is levied by a country or trading region on US items.
In a statement, the European Commission said: “The EU will react firmly and immediately against unjustified barriers to free and fair trade, including when tariffs are used to challenge legal and non-discriminatory policies.”
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Spain’s Prime Minister, Pedro Sanchez, last week warned that ‘in a trade war there are no winners, we all lose’, which is why Spain will always have its ‘hand outstretched’ to avoid trade wars and tariff escalations.
Given this scenario, he argued that ‘unity is strength’, which is why he believes that ‘now, more than ever, the EU must show unity to respond to any eventuality’.
“We must be prepared to take the right decisions in the face of a potential trade conflict that is not in Europe’s interest and that Europe does not want,” Sanchez added.
The European Commission on Friday accused the Trump administration of undermining its existing commitments.
“For decades, the EU has worked with trading partners like the US to reduce tariffs and other trade barriers worldwide, reinforcing this openness through binding commitments in the rules-based trading system — commitments that the US is now undermining,” the Commission said.
