Brussels is developing a two-step trade strategy to deal with Donald Trump, if he wins a second term as president.
The Financial Times (FT) writes about it.
Trump has already announced a plan to introduce a universal import tax of 10%, several times higher than the current level. EU officials believe that the introduction of the levy will reduce exports from the EU by around €150 billion every year.
Negotiators plan to turn to Trumpʼs team if he wins the election in November, before he takes office, to discuss which US goods the EU could buy in greater quantities.
If negotiations on improving trade do not yield results and Trump applies higher tariffs, the European Commissionʼs trade department is compiling lists of imported goods on which it can impose tariffs of 50% or more.
"We have to show we are a partner for the US, not a problem. We will look for deals, but we are ready to defend ourselves if it comes to it. We won’t be guided by fear," the interlocutor told the FT.
- After Trump imposed tariffs on €6.4 billion worth of steel and aluminum imports from the EU and other countries in 2018 on national security grounds, the EU responded with tariffs worth €2.8 billion. At that time, Ukrainian steel products also fell under these duties.