Šefčovič warned in the EP that American tariffs could affect 97 percent of EU exports
Brussels/Strasbourg – European Commissioner for Trade and Economic Security Maroš Šefčovič warned on Tuesday in the plenary session of the European Parliament (EP) in Strasbourg that the United States may impose new tariffs on exports from the EU, which could affect up to 97 percent of exported goods. This was reported by TASR correspondent.
Šefčovič reminded that in addition to the ongoing investigation into timber imports, the US administration recently opened six more investigative procedures to assess the impact of imports on national security. According to him, the sectors under investigation include pharmaceuticals, semiconductors, critical raw materials, as well as trucks and truck parts.
If all these investigations lead to the imposition of additional tariffs, which President Donald Trump indicated as early as the beginning of April, 97% of EU exports to the United States would be subject to new import tariffs representing a trade volume worth 549 billion euros.
“The situation as such is unacceptable, and we cannot afford to remain idle,” Šefčovič told MEPs. He also reiterated that the European Commission, on whose behalf he is negotiating with the US, aims to find and agree on solutions with the American side that would prevent the aforementioned situation.
“Now we need the United States to show their readiness to move towards a fair and balanced solution,” he described the situation.
In addition to negotiations, he stated that the EU is also preparing for legal disputes aimed at preserving and strengthening the global multilateral trading system based on rules. In this context, he reminded that the EU wants to accelerate negotiations on free trade with other global trading partners. Such negotiations are ongoing with the countries of the Association of Southeast Asian Nations (ASEAN), India, and members of the Gulf Cooperation Council (GCC).
“The US accounts for 13 percent of global trade. That’s a lot. But we must not forget about the remaining 87 percent,” Šefčovič told MEPs. (May 6)
“The situation as such is unacceptable, and we cannot afford to remain idle. We need the United States to show their readiness to move towards a fair and balanced solution.” Maroš Šefčovič
