Strasbourg: The European Union will not succumb to an unfair trade deal with the United States, insisted EU Trade Commissioner Maros Sefcovic during a plenary debate at the European Parliament. He criticized the US-imposed tariffs, describing them as unjust, and emphasized that the EU does not feel pressured to accept a disadvantageous trade agreement. Sefcovic highlighted the eagerness of other trading partners to accelerate negotiations with the EU, signaling a robust interest in strengthening economic ties with the bloc.
According to Cyprus News Agency, Sefcovic addressed the EU Parliament in Strasbourg during a session titled “A unified EU response to unjustified US trade measures and global trade opportunities for the EU.” The debate underscored the necessity of a cohesive EU approach to the US tariffs, given that the US remains the EU’s most significant ally. Sefcovic reassured members that the EU is not in a weak position and stressed that the bloc will not agree to a deal that is not equitable.
The US has imposed a 25% import tariff on EU steel, aluminum, and automotive products, alongside a 10% tariff on most other goods, which could escalate to 20% after a 90-day pause initiated by President Donald Trump. In his remarks, Sefcovic underlined the long-standing and substantial economic relationship between the EU and the US, which he described as the largest bilateral trade and investment partnership globally. He noted that trade in goods and services between the two entities surpassed EUR 1.7 trillion in 2023, with EU companies being the largest foreign investors in the US.
Highlighting the economic interdependence, Sefcovic pointed out that EU companies employ millions in the US and that trade and investment are critical to shared prosperity and economic security. However, he acknowledged the current challenges posed by US tariffs, which disrupt supply chains and create economic uncertainty, impacting both EU and US companies and elevating costs for consumers and businesses.
Sefcovic revealed that the EU has paused its retaliatory measures against the US tariffs for 90 days to facilitate negotiations. Despite this goodwill gesture, US tariffs continue to impact EUR 380 billion of EU exports, representing 70% of total exports to the US, with potential further tariff actions looming. He asserted that the situation is untenable and that the EU will prepare countermeasures should talks with the US fail to yield a fair solution.
The EU’s preference remains a negotiated resolution with the US, and Sefcovic called for US readiness to work towards a balanced agreement. The EU will utilize the pause until July 8 to plan further rebalancing measures, maintaining all options on the table. A task force monitoring trade diversion due to the US tariffs is expected to deliver its findings by mid-May.
European leaders and MEPs across various political groups echoed Sefcovic’s concerns, emphasizing the importance of a unified EU response and strategic independence. They called for strengthening internal markets, pursuing new trade agreements, and defending European interests against protectionist measures. The debate also highlighted the implications of US tariffs on global stability and the necessity for Europe to assert its economic and political sovereignty amidst growing international challenges.