EU to Respond Firmly to Unjustified Trade Barriers

EU-US Trade (Source: European Commission)

The European Commission (EC) has criticized President Donald Trump's proposed "reciprocal" trade policy, calling it "a step in the wrong direction".

"The EU remains committed to an open and predictable global trading system that benefits all partners," the Commission said on Friday, February 14.

"The EU maintains some of the lowest tariffs in the world and sees no justification for increased US tariffs on its exports. Tariffs are taxes. By imposing tariffs, the US is taxing its own citizens, raising costs for business, stifling growth and fuelling inflation. Tariffs heighten economic uncertainty and disrupt the efficiency and integration of global markets.”

The EC stressed that global trade has thrived thanks to transparent, predictable rules and low tariffs. For decades, the EU has worked with trading partners such as the US to reduce tariffs and remove trade barriers around the world, and has reinforced this openness through binding commitments in a rules-based trading system – commitments that the US is now undermining.

“The EU thrives as one of the world's most open economies, with over 70% of imports entering at zero tariff. The EU's average applied tariff on imported goods remains among the lowest globally. Economic integration and the removal of trade barriers have been fundamental to the European Union's success.”

“We believe in trade partnerships that are mutually beneficial and balanced, grounded in transparency and fairness. That is also why the EU has the largest and fastest growing network of trade agreements in the world. The EU has negotiated and concluded over three times as many trade agreements as the US.”

The EC affirmed that the EU will respond strongly and immediately to unjustified barriers to free and fair trade, including where tariffs are used to challenge legitimate and non-discriminatory policies. “The EU will always protect European businesses, workers, and consumers from unjustified tariff measures.”

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Source: Phaata.com (According to European Commission)

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