The European Commission has disclosed the details of a deal it has proposed to President Donald Trump amid the ongoing tariff dispute—an approach the EU says has already proven effective with “many other trading partners.”
In March, Trump threatened to slap the European Union with 200 percent tariffs on select goods unless it eliminated what he described as a “nasty” tax—specifically targeting whisky.
That warning came in response to the EU increasing its own tariffs as retaliation for the U.S. imposing 25 percent duties on steel and aluminum imports.
Then came the so-called ‘Liberation Day,’ with Trump celebrating the ‘rebirth’ of American industry by imposing even more tariffs on countries worldwide, including raising tariffs on EU goods to 20 percent.
However, it seems the EU is now extending an olive branch to the U.S. in response.
A press statement released yesterday (April 7) by President von der Leyen, alongside Norwegian Prime Minister Jonas Støre, reveals that the two leaders have “discussed the impact of U.S. tariffs.”
The statement goes on: “These tariffs primarily result in significant costs for U.S. consumers and businesses. At the same time, they have a profound effect on the global economy, with developing countries bearing the brunt. This marks a crucial turning point for the United States.
“That said, we are prepared to negotiate with the U.S. We’ve even offered zero-for-zero tariffs on industrial goods, as we’ve successfully done with other trading partners. Europe is always open to a fair deal, and we’re keeping that option on the table.”
However, the statement also carries a cautionary note.
Trump doesn’t exactly seem convinced
The statement also emphasizes that the EU is “prepared to respond with countermeasures and defend our interests.”
It concludes: “Furthermore, we will safeguard ourselves against indirect effects through trade diversion. To address this, we will establish an ‘Import Surveillance Task Force.’
“We will collaborate with industry to ensure we have the necessary evidence to support our policy measures. We will maintain close communication to minimize the impact of our actions on one another.”
“[…] We are not only discussing our response to the U.S., but also focusing on the other two key pillars of our strategy: one is strengthening our Single Market by removing remaining barriers, and the other is diversifying our trade relations.”
Unfortunately, Trump’s response to the offer hasn’t been overly favorable. Speaking to reporters outside the White House, the President stated that the EU would need to commit to purchasing $350 billion worth of American energy, adding that he would only consider a deal if it put “America first.”
