The European Union prioritizes achieving a negotiated trade solution with the United States; however, if talks fail to yield results, the EU will implement countermeasures, stated European Union Commissioner for the Economy Valdis Dombrovskis in Washington on Wednesday. During the IMF and World Bank spring meeting, he noted that the EU has already proposed increasing its purchases of US LNG and lowering tariffs on specific products, while also expressing a desire for clearer expectations from Washington.
Dombrovskis emphasized that the EU remains committed to its vital partnership with the United States, which represents an economic and trade relationship valued at $9.5 trillion. He remarked, ‘The EU is dedicated to its current partnerships and aims to strengthen them, while also pursuing new global partnerships to enhance our economic security.’ He reassured that the EU will continue to be a dependable and predictable trading partner. The 27-member bloc has established trade agreements with 76 countries, recently finalized negotiations for new or improved partnerships with Mexico, Switzerland, and four South American nations in Mercosur, and is actively negotiating with India, Thailand, the Philippines, and Indonesia, in addition to initiating trade discussions with the United Arab Emirates. ‘These trade agreements are designed to create mutually beneficial partnerships that are reliable and based on rules,’ he stated.
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EU officials have refrained from using harsh language in response to US President Donald Trump’s critical remarks regarding US-EU trade relations, emphasizing the importance of stable and predictable trade interactions. On April 10, the EU temporarily suspended its initial countermeasures against Trump’s tariffs for 90 days, although European Commission President Ursula von der Leyen has indicated that all options for countermeasures remain available.
