BRUSSELS, May 25: Tariffs harm the United States and the European Union (EU) in equal measure, says Katherina Reiche, Germany’s economy and energy minister.
“Tariff conflicts know no winners,” she adds in light of United States (US) President Donald Trump’s threat to slap a 50 per cent tariff on European goods.
Many EU officials and member-state representatives have expressed their discontent and warned that coercive tactics would jeopardise transatlantic trade talks.
Trump accused the EU on Friday of “taking advantage of the United States on trade” and being “very difficult to deal with” on his social platform Truth Social, and announced that he is “recommending a straight 50 per cent Tariff on the EU, starting on June 1, 2025.”
The tariff threat came amid stalled negotiations, with Washington demanding unilateral concessions from Brussels to open up to US business, while the EU has been seeking an agreement that offers mutual gain, Reuters had reported, citing people familiar with the EU-US trade talks.
The European Commissioner for Trade and Economic Security Maros Sefcovic responded on social platform X that the EU stands ready to defend its interests.
Stressing the bilateral trade “must be guided by mutual respect, not threats,” Sefcovic wrote, “The EU’s fully engaged, committed to securing a deal that works for both. The EU Commission remains ready to work in good faith.”
Bernd Lange, chairman of the European Parliament’s International Trade Committee, posted on social platform Bluesky that EU legislators will travel to Washington next week “to demystify some misperceptions” about EU trade policy.
“If Trump is truly seeking cooperation and negotiations, he will always find open doors in the EU. If he’s just looking for us to rubber-stamp his demands, he’s knocking on the wrong door,” Lange wrote.
He also rejected Trump’s claim that the EU was created to “take advantage of the United States” on trade.
Irish Taoiseach Micheal Martin described Trump’s announcement as “enormously disappointing,” warning that such high tariffs would “grievously damage one of the world’s most dynamic trading relationships” and disrupt global markets.
French Minister Delegate for Foreign Trade Laurent Saint-Martin condemned Trump’s tariff threats as “of no help during the negotiation period,” reiterating the EU’s stance for de-escalation.
Saint-Martin told the French news channel BFMTV that imposing heavy duties on American imports was not the outcome the EU sought, but warned that Brussels would take retaliatory measures to restore a genuine balance of power if necessary.
— BERNAMA-XINHUA