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Brussels/Luxembourg – Europe has shown unity in response to the new tariffs imposed by U.S. President Donald Trump. On Monday, after a meeting of the EU Foreign Affairs Council – trade segment in Luxembourg, Minister of Economy Denisa Saková (Hlas-SD) stated, as reported by TASR.
The Council of Ministers also addressed the EU’s measures regarding tariffs imposed and being imposed by the administration. “Europe is absolutely united on this. European leaders agreed that we need to look for other options offered to us by other continents. For example, finalizing a barrier-free trade agreement with Latin America would certainly help the European market,” she said, referring to the free trade agreement between the EU and Mercosur countries, which is awaiting ratification.
She added that rapidly developing countries in Asia, including China, are also in play, which she stated “is and will be a global economic superpower.” In this context, she expressed hope that the recent visit of European Commissioner for Trade Maroš Šefčovič at the end of March will benefit the European market and European economy. “China offers great opportunities, and it’s about having a constructive dialogue and not losing this market,” the minister stated.
Saková pointed out the conclusions of the ministerial discussions, according to which the EU could manage on its own, provided that intra-European trade increased by more than two percent. “This would compensate all European producers for the losses of 80 billion euros they have to pay in tariffs when exporting their products to the United States,” she explained.
According to her, Šefčovič said at the meeting with EU ministers that negotiations with the American side will continue, and member states will be promptly informed of their results. (April 7)
“Europe is absolutely united on this. European leaders agreed that we need to look for other options offered to us by other continents. For example, finalizing a barrier-free trade agreement with Latin America would certainly help the European market.” Denisa Saková