EU terms Trump’s 30pc tariff threat ‘absolutely unacceptable’

BRUSSELS: European Union member states find US President Donald Trump‘s 30 per cent tariffs threat “absolutely unacceptable”, Danish Foreign Minister Lars Lokke Rasmussen said on Monday during a joint press conference with EU Trade Commissioner Maros Sefcovic in Brussels.

Speaking on the occasion, Sefcovic said the member states agreed that the EU would need to go for countermeasures if the trade negotiations with the US fail.

In this connection, AFP reported, the European Commission put forward a new list of US goods worth 72 billion euros ($84 billion) that could be targeted by EU levies.

Sefcovic, said the proposal, “accounting for some 72 billion euros’ worth of US imports”, was shared with EU trade ministers.

Any with deal with the US has to be accepted by EU members and the European Parliament, he made it clear after a meeting with the bloc’s ministers in Brussels, Reuters reported.

However, Sefcovic added he believes there is “still a potential to continue the negotiations”.

At the same time, the EU trade chief told reporters that he plans to confer with his US counterparts later on Monday to discuss the state of play.

‘IT TAKES TWO HANDS TO CLAP’

Sefcovic said it takes two hands to clap when it comes to the trade negotiations with the US.

“The EU … never walks away without genuine effort, especially considering the hard work invested how close we find ourselves to making a deal and the clear benefits of the negotiated solution. But as I said before, it takes two hands to clap,” he said.

Earlier on Sunday, German Finance Minister Lars Klingbeil had said the European Union will need to take “decisive” action to counter US tariffs if no “fair” deal is reached with Washington to avert threatened levies.

Meanwhile, the trade war between the US and the Europe – the two transatlantic allies with unbreakable bond in theory – comes at a time when Europe is gearing up to divert resources to hike defence spending.

On Sunday, French President Emmanuel Macron said Sunday that freedom in Europe was currently under a greater threat than at any point since the end of World War II, as he called for a massive increase in defence spending.

It’s a developing story. Details to follow.