
The EU will “react strongly” to the actions of any trade partner who imposes fairly or arbitrarily duties, the EU said in Brussels. About this wrote
Deutsche Welle. Ursula fon fon der Leien and Donald Trump in Davos, January 2020 year Photo: Evan Evan Vucci/AP/picture alliance
European Union will “react strongly “strongly to the actions of any trade partner who imposes fairly or arbitrarily duties, Brussels
said. About this wrote Deutsche Welle.
The European Commission warned US President Donald Trump about the consequences of possible trade war after his recent tariff decisions. “The European Union regrets the decision of the US to impose duties on Canada, Mexico and China,” the European EU said in the EC statement published Sunday, 2 February. According to the EU representative, open markets and compliance with international trade rules are important for strong and sustainable economic growth. Tariffs cause unnecessary economic shocks and stimulate inflation, “harming all parties.”
The European Union spokesman indicated that the EU would “strongly respond” to any trade partner who imposes fairly or arbitrarily duties. “Our trade and investment relationship with the United States is the biggest in the world. The stakes are high, ” he emphasized.From the EU’s point of view, both sides should work to strengthen the existing relationship. The Spokesman noted that there is no knowledge of any additional tariffs on US products of the EU.
The EC chairwoman warns Trump against unleashing trade wars
The European Commission Chairwoman Ursula fon der Liejen in January already warned Trump against leading to a trade war with Europe, but signaled with this preparedness for negotiation. “There are no other economies in the world that would be so tightly intertwined as ours,” she said, speaking at the World World Economic Forum in Davos.
The EC chief remembered that the annual trade of the US and the European Union is 1.5 trillion euros, which accounts for 30 percent of world trade. According to Von fon der Lehyen, the top priority for the EU is establishing first contacts and discussing common interests with the new American leadership.
Chancellor FDR Scholz: Free exchange of commodities is a condition for prosperity
Federal Chancellor of Germany Olaf Scholz warned that fine tariffs of the US would have a negative impact on world trade. “World exchange of goods and services has clearly demonstrated success, which has made possible prosperity for all of us,” he said to journalists on a visit to the British on February>2 . According to Scholz, it’s not about not that the world is now divided with a multitude of customs barriers, but to make this exchange possible in the future.
President of the Federal Federal Association of Wholesale Trade, Foreign Trade and Service Services DirkYandura already sees the new US tariffs as a clear sign to the EU and EC chair von der Lehyen. “We should not wait in anxiety when customs tariffs will be imposed on the EU or Germany,” he announced . In the expert’s opinion, the customs policy of the President of the US will fail. He has indicated that imposing new tax restrictions will not only exacerbate the trade conflict between countries, but it will also be expensive to the citizens of the US.
On February 1 February 1 Donald Trump signed an executive order that the U.S. imposes duties on goods from Canada, China and Mexico. The rate on products from the neighboringU.S.CanadaandMexicowill beup to25percent,andoncrude oilfromCanadaitissetat10percent.The samesame–50%-rateisin effectforgoodsfromthePRC.