EU Criticizes U.S. Trade Policy Amid Tariff Disputes
European Commission vows immediate action against U.S. tariffs on steel and aluminum.
The European Commission has stated it will take 'firm and immediate action' in response to President Donald Trump's tariffs on steel and aluminum.
In an official statement, the Commission asserted that the proposed United States trade policy is 'heading in the wrong direction.'
The Commission emphasized that the European Union (EU) would respond to 'unjustified barriers to free and fair trade,' particularly when tariffs are employed to challenge legitimate and non-discriminatory policies.
The EU pledged to always protect European companies, workers, and consumers against what it termed as unjustified tariff measures.
Representing the trade interests of its 27 member states, the Commission noted that the EU maintains some of the lowest tariffs globally and sees no justification for increasing U.S. tariffs on its exports.
It highlighted that 'tariffs are taxes,' stating that by imposing tariffs, the United States effectively taxes its own citizens, increases business costs, stifles growth, fuels inflation, heightens economic uncertainty, and disrupts market efficiencies and global integration.
The EU estimates that the annual trade volume between the EU and the U.S. stands at approximately $1.5 trillion, representing around 30% of global trade.
While the EU reports a substantial surplus in goods exports, it notes that this is partially offset by a U.S. surplus in services trade.
In 2023, trade in goods between the EU and the U.S. amounted to €851 billion ($878 billion), with the EU enjoying a trade surplus of €156 billion ($161 billion).
Conversely, trade in services was valued at €688 billion ($710 billion), resulting in a trade deficit of €104 billion ($107 billion) for the EU.
In an official statement, the Commission asserted that the proposed United States trade policy is 'heading in the wrong direction.'
The Commission emphasized that the European Union (EU) would respond to 'unjustified barriers to free and fair trade,' particularly when tariffs are employed to challenge legitimate and non-discriminatory policies.
The EU pledged to always protect European companies, workers, and consumers against what it termed as unjustified tariff measures.
Representing the trade interests of its 27 member states, the Commission noted that the EU maintains some of the lowest tariffs globally and sees no justification for increasing U.S. tariffs on its exports.
It highlighted that 'tariffs are taxes,' stating that by imposing tariffs, the United States effectively taxes its own citizens, increases business costs, stifles growth, fuels inflation, heightens economic uncertainty, and disrupts market efficiencies and global integration.
The EU estimates that the annual trade volume between the EU and the U.S. stands at approximately $1.5 trillion, representing around 30% of global trade.
While the EU reports a substantial surplus in goods exports, it notes that this is partially offset by a U.S. surplus in services trade.
In 2023, trade in goods between the EU and the U.S. amounted to €851 billion ($878 billion), with the EU enjoying a trade surplus of €156 billion ($161 billion).
Conversely, trade in services was valued at €688 billion ($710 billion), resulting in a trade deficit of €104 billion ($107 billion) for the EU.
Translation:
Translated by AI
