The European Union has emphasized the importance of mutual respect in ongoing trade negotiations with the United States, following President Donald Trump’s warning of a 50% tariff on EU exports.

EU Trade Commissioner Maros Sefcovic reaffirmed the bloc’s commitment to a fair trade deal, stating, “EU-US trade is unmatched and must be guided by respect, not threats. We stand ready to defend our interests.” 

His comments followed discussions with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick.

Trump, frustrated with slow progress in talks, announced that higher tariffs would take effect on June 1. On social media, he expressed impatience, saying, “Our discussions with [the EU] are going nowhere,” and later suggested that he might reconsider if European companies invested in the US.

The EU, one of Washington’s largest trading partners, exported over $600 billion in goods to the US last year while importing $370 billion. 

In response to Trump’s remarks, Irish Prime Minister Micheál Martin urged continued negotiations, stating, “Dialogue remains the best and only sustainable solution.”

French Foreign Minister Laurent Saint-Martin called for de-escalation but warned that Europe is prepared to respond, while German Economy Minister Katherina Reiche stressed the need for a solution with the US.

The EU has threatened a 25% tariff on $20 billion worth of US goods, though implementation remains on hold as negotiations continue. 

Meanwhile, Trump’s administration has kept tariffs on EU steel, aluminum, and Chinese imports in place.

As uncertainty looms over EU-US trade relations, market reactions have been swift, with stocks falling across Europe and the US following Trump’s latest warning.

Source: BBC 

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