Šefčovič again called Lutnicky and Greer, warned them about the EU’s stance on tariffs

Brussels – European Commissioner for Trade and Economic Security Maroš Šefčovič contacted his partners on the American side after Monday’s Brussels meeting of the EU Foreign Affairs Council, trade segment, to discuss tariffs. On Monday evening, he spoke with U.S. Secretary of Commerce Howard Lutnick and U.S. Trade Representative Jamieson Greer. He also reconnected with Greer on Tuesday, reports TASR.

Šefčovič stated on Monday that he has a mandate to continue negotiations on tariffs, as well as a mandate to implement multi-billion euro retaliatory measures from the EU if the negotiations fail. Trade ministers confirmed this mandate in response to statements made by U.S. President Donald Trump last Saturday (July 12) regarding the threat of a 30 percent increase in tariffs for the EU starting August 1.

The Slovak Commissioner emphasized that there is still a need to believe in the possibility of reaching a satisfactory agreement on tariffs with the U.S. in the next two weeks. According to him, it is also in the interest of the American industry and the American economy to find a solution that preserves the ties built over decades across the Atlantic.

It is also in the interest of the American industry and the American economy to find a solution that preserves the ties built over decades across the Atlantic

“The barriers being erected in the middle of the Atlantic, at the borders with Mexico and Canada, and in the Pacific against South Korea and Japan, will dramatically increase the cost of goods imported into the U.S. This will negatively impact trade and, in the case of Europe, will practically make export impossible, which is bad news for consumers and businesses,” he explained.

According to him, this scenario introduces uncertainty into trade relations, which cannot be in anyone’s long-term interest.

“We will strive to negotiate, even though given the tense atmosphere in the global trade economy, it will not be easy, but it is our duty to do our utmost by August 1,” Šefčovič referred to the date set by Donald Trump.

When asked what would happen if no agreement is reached, the Commissioner clarified that the only option for the EU would be to impose retaliatory tariffs amounting to more than 90 billion euros. Although the EU knows well that Trump threatens further increases in tariffs in this case.

“From the perspective of our analyses, when we talk about tariffs of 30 percent, 50 percent, or 100 percent, it practically makes no difference anymore. Because even the thirty percent ones are so restrictive that they block trade between the EU and the U.S.,” he said. With this argument, he believes the Union wants to convince the American side to return to last week’s interrupted negotiations. (July 15)