After the new customs announcement by US President Donald Trump for imports from the EU, Europe must find an answer in ongoing negotiations.
Ministers of the Member States responsible for trade questions want to advise on Monday in Brussels on how to proceed after the announcement from Washington.
Trump plans to load imports from the EU with an inch of 30 percent from August 1st. Actually, after weeks of negotiations, an early agreement to defuse the trade conflict was expected.
For the time being no counter -tariffs
Despite the renewed escalation by Trump, the EU does not want to put any counter -duties into force. EU Commission President Ursula von der Leyen announced that it would extend the suspension of the measures until the beginning of August. “The United States sent us a letter with measures that would take force, unless a negotiation solution is found,” she said. “We will therefore also extend the suspension of our countermeasures by the beginning of August.”
At the same time, from the Leyen emphasized that the EU would not remain standalless. The Commission will prepare further countermeasures in the coming weeks, “so that we are well equipped,” she said.
Trump had announced the new planned tariffs on Saturday. The negotiations must show whether the introduction of this customs rate can still be averted.
Germany particularly hit as an export nation
Federal Minister of Economics Katherina Reiche (CDU) said: “In the remaining time for the EU, it is now a matter of pragmatic negotiating a solution with the United States that focuses on the main major conflict points.” According to Reich, US special tariffs would not only affect the exporting companies in Europe, but also have noticeable economic consequences for the economy and consumers on the other side of the Atlantic.
Finance Minister and Vice Chancellor Lars Klingbeil also emphasized that the tariffs threatened the American economy at least as strongly as companies in Europe. The SPD boss called for a de-escalation on both sides. “Nobody now needs new threats or provocations. We still need serious and targeted EU negotiations with the United States,” said Klingbeil of the “Süddeutsche Zeitung”.
However, Klingbeil also made it clear to the federal government that it does not want to add small. “If a fair negotiating solution does not succeed, we have to take determined countermeasures to protect jobs and companies in Europe.”
Trump shows scope
EU Council President António Costa criticized in social networks: “Customs are taxes. They heat up inflation, create uncertainty and inhibit economic growth.” The EU is united and is ready to protect its interests, the Portuguese added.
Trump shows scope in his letter: In the event of countermeasures, he threatened to increase further customs increases. At the same time, the US President writes: If the EU is ready to open its trading markets for the United States and to remove trade barriers, an adaptation of the letter will be considered. Depending on the development of relationships, the tariffs could be adapted up or down.
That provides for the duty
The new duty rate of 30 percent applies to all goods that the EU wants to introduce to the United States. This does not apply to certain industries in which Trump demands other surcharges. So far, other sentences have been true for car and auto parts as well as steel and aluminum. So far, the United States has shown imported EU cars and auto parts with a duty of 25 percent, and 50 percent for steel and aluminum imports.
The President of the Autoile Association VDA, Hildegard Müller, commented: “The costs for our companies are already in the billion dollar sector-and every day the sum grows.”
The United States is the most important trading partner for Germany. With his customs policy, the Republican wants to correct alleged trade weights and achieve that more is produced in the United States. In the worldwide customs conflict, Trump initially set a deadline of July 9 for new tariffs and then extended them to August 1 a few days ago.
In the past few weeks, the United States had negotiated with many countries. Most recently, letters to numerous countries with new customs regulations followed. The amount of the additional fee for imports from the EU is in midfield.
Brussels/Berlin/Washington (dpa-AfX)
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