The European Union wants ‘respect’ from Donald Trump after the American president threatened new tariffs. Trump wrote on his platform Truth Social that he wants to see import tariffs of 50 percent for the EU. That measure should take effect on June 1st.
According to Trump, it is difficult to negotiate with the EU. “The European Union, which was primarily established to take advantage of the United States in the field of trade, is very difficult to fight,” he wrote on Friday.
European Commissioner for Trade Maros Sefcovic says on Saturday that the EU is ready to “defend our interests.” He emphasizes that the 27 member states still assume a new trade deal with the United States.
“But that must be concluded on the basis of respect, not on the basis of threats,” says Sefcovic. He spoke on Saturday with his American counterpart Jamieson Greer and the Minister of Economic Affairs, Howard Lutnick.
Trump states that the ‘trade barriers and other measures’ of the EU have led to a trade deficit with the US, with a value of 250 billion dollars per year. “And our talks with the EU lead to nothing,” he wrote on Truth Social.
The European Commission has yet to come up with an official response to Trump’s measures. Prime Minister Dick Schoof said in an initial response on Friday that it is especially important to remain calm and prevent escalation. That message was repeated by numerous other European leaders.
EU is one of the most important Trading Partners of the US
The EU is one of the most important trading partners of the United States. Last year, total exports from the EU to the US amounted to around 500 billion euros. The three largest exporters were Germany (161 billion euros), Ireland (72 billion euros) and Italy (65 billion euros). Exports mainly consist of pharmaceutical products, cars, car parts, chemicals and airplanes.
Trump has started trade wars with almost all trading partners since the beginning of his second term. He has mainly targeted China, but now also the EU. Trump is convinced that import tariffs will lead to a revival of the American manufacturing industry. He further says that no tariffs apply to EU products that are produced in the US.
The president also threatens a 25 percent tariff against Apple if the company does not make its iPhones in the US. The tech company makes most of its iPhones in China and currently has no smartphone factories in the US.