EU Trade Chief: ‘No Pressure’ to Accept Unfair Deal with US
The European Union is pushing back against escalating trade tensions with the US, with Trade Commissioner Maros Sefcovic declaring that the bloc won’t be rushed into accepting a lopsided tariff agreement. 🔥 ‘All options remain on the table,’ he warned, as the EU prepares countermeasures ahead of a July 8 deadline.
What’s at Stake?
The US currently imposes 25% tariffs on EU steel, aluminum, and cars, with a reciprocal 10% levy on nearly all other goods. If talks collapse, Washington could hike tariffs to 20%, risking a full-blown trade war. 💥 The EU says US measures already impact 70% of its goods exports—a figure that could jump to 97% if Washington expands probes into semiconductors, pharmaceuticals, and more.
Global Alliances Shift Gears 🌐
While the EU braces for turbulence, other countries are reportedly reaching out to deepen trade ties with the bloc. Sefcovic emphasized plans to ‘ensure a level playing field’ and monitor trade diversion via a new task force. Results from this effort are expected by mid-May. 🚨
