EU's Trade Revolution: Maros Sefcovic's Vision for a Fairer Transatlantic Partnership

European Union Trade Commissioner Maros Sefcovic has unveiled dramatic measures after the mass tariffs imposed by the United States under the President Donald Trump presidency. In a speech today, Sefcovic said that almost €380 billion of EU exports to the US—70% of the bloc's total exports—are subject to tariffs.

In a bid to defuse tensions, the EU has offered a "zero-for-zero" car tariff deal on all industrial goods. Sefcovic emphasized, however, that while the EU is keen to negotiate and prefers the negotiating table to a showdown, it will not wait forever for a breakthrough.

As part of its initial response to US tariffs on steel and aluminium, the European Commission will complete a list of US products to be hit by retaliatory tariffs and submit it to member states later today. Targeted retaliation will hit as much as €28 billion of US imports, ranging from meat, cereals, wine, clothes, to home appliances.

The EU strategy is for a step-by-step approach, with the first steps to begin on April 15 following a vote by member states on Wednesday. Sefcovic described recent talks with US officials as "frank," once more claiming that the tariffs are harming and unjustified.

While giving top priority to negotiations to prevent an all-out trade war, EU ministers have accepted the necessity of retaliatory measures in case of failed negotiations. Bloc leaders are also considering wider retaliatory measures against Trump's auto tariffs and retaliatory tariffs on other products.

Source: Reuters