We will not shoot from the hip – we want to give negotiations every chance to succeed to find a fair deal, to the benefit of both sides.
That is why, as mandated by President von der Leyen, I have agreed with my U.S. counterparts to hold a video call tomorrow to explore the best way to move forward from this unnecessary and painful phase, by addressing legitimate concerns on both sides.
I will work on this round the clock.
However, the EU will not stand idly by, should we be unable to reach a fair deal with our American partners.
We are prepared to implement firm, impactful but proportionate countermeasures. The analytical work to guide our proposals is well underway.
This is not about escalating tensions. It is about responsibly protecting our businesses, jobs, and consumers from the harm these tariffs will cause.
Our response will complement the EU rebalancing measures already announced following the U.S. decision last month to target our steel and aluminium exports worth 26 billion euros.
The consultation for these countermeasures has now finished, and I will discuss the next step with EU Trade Ministers on 7 April, with a vote expected two days later.
In addition, we must recall that the EU is not dependent on any one market, and we will use this situation to further diversify our trade partnerships around the world – to ensure our businesses can grow and thrive globally.
The EU has long championed strong, fair and mutually beneficial trade. We have proven time and time again that this approach yields rich dividends – for our partners, and for us.
We understand that the U.S. seeks to strengthen its domestic industrial base. As does the EU – we too want to become stronger in manufacturing and innovation.
Therefore, with a mutually beneficial deal, the potential gains for the EU and the U.S. are limitless. This remains the approach we wish to pursue for transatlantic trade.
Source – EU Commission