The ministers, meeting in Brussels, declared the tariffs “unjustified and unacceptable,” yet pledged to work with Washington on a negotiated outcome, “one that delivers tariff relief and brings back stability and predictability to transatlantic trade,” as their joint statement said.
EU officials say that they have been negotiating in good faith since April, when Trump announced his unilateral tariffs on most of the world, but they are unclear about what the President’s aims are. Does he want Europe to buy more US cars? More grain? More liquefied natural gas (LNG)? More weapons? Trump’s own representatives have been unable to explain, and when they convey the EU’s offers to the White House, he dismisses them. “It is difficult to negotiate with a jellyfish. The only predictable thing about Trump is his studied unpredictability,” says one trade negotiator.
Trump shakes hands with Britain’s ambassador to the United States, Peter Mandelson, after the US and Britain reached a deal on trade (Photo: Reuters / Leah Millis)But it also has weaknesses. It needs to take its various constituent parts into account, and its 27 member states have different views on whether to hold, raise or fold in the trade poker. Trump, by contrast, bypasses potential obstacles like Congress to decide policy on a whim, and seems impervious to criticism (although business and market blowback can make him reverse course).
square TARIFFS AnalysisTrump has set the stage for a colossal trade war - and it could spiral out of control
Read More
Second, the EU likes to think it has more moral fibre than to cut a deal that would keep Trump’s arbitrary tariffs in place – like Britain did with its quick and dirty agreement in May that maintained the 10 per cent duties. That would condone what the EU sees as illegal tariffs, which are forbidden under World Trade Organisation (WTO) rules. But EU officials are now looking at the UK’s deal anew, recognising that London’s pragmatism might have been more fruitful than Brussels’ slow, detailed and technocratic approach.
EU Trade Commissioner Maros Sefcovic has warned that 30 per cent tariff rate would make it almost impossible to continue trading as before, with massive knock-on effects on supply chains, business and jobs on both sides of the Atlantic.
“I think we have to do, and I will definitely do, everything I can to prevent this super-negative scenario,” he said. But there is a gnawing recognition in Europe’s corridors of power that their hand is not nearly as strong as it should be when it comes to negotiating a deal with Trump.
Hence then, the article about how europe plans to stand up to trump trade war or not was published today ( ) and is available on inews ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( How Europe plans to stand up to Trump – trade war or not )
Also on site :