Caricatures and drawings on Forex portal
Trump unwilling to make concessions to EU on tariffs
The US president is pushing his agenda without regard for anyone else. How can negotiations succeed under such circumstances if the White House sticks to its guns? According to Reuters, Donald Trump’s administration is not particularly interested in talks aimed at preventing a trade conflict with the European Union. This stance was expressed by Maroš Šefčovič, a European commissioner for trade, just two days before Washington announced tariffs on all steel and aluminum imports.
Šefčovič, a Slovak diplomat and politician, stated that he traveled to the US last month "to initiate dialogue and avoid unnecessary pain from measures and countermeasures." However, these efforts were in vain, even though both sides identified several mutually beneficial areas for cooperation.
"One hand cannot clap. The US administration does not seem eager to make a deal," Šefčovič concluded. He emphasized that the EU remains open to constructive dialogue, as the imposed tariffs "benefit no one." Given that trade between these long-established partners amounts to €1.6 trillion ($1.7 trillion), both sides "must act with extreme caution."
"If the EU's efforts to establish mutually beneficial cooperation yield no tangible results, we will have to revise our approach. We are ready to protect European businesses, workers, and consumers from unjustified tariffs," the commissioner stressed.
© InstaFintech Group
