EU Eyes Global Trade Deals Amid US Tensions
The European Union (EU) primarily wants to reach a solution with the United States regarding trade through negotiations, but if they fail to produce one it will respond with countermeasures.
This was stated today in Washington by the European Commission Commissioner for Economy, Valdis Dombrovskis, at the spring meeting of the International Monetary Fund and the World Bank.
He said the EU had already offered to buy more liquefied natural gas from the US and to lower tariffs on imports of certain goods, adding that Brussels would welcome greater clarity from Washington about its expectations, CE Report quotes Kosova Press.
"The EU stands by its existing partnerships and aims to deepen them, but we will also negotiate new partnerships around the world to strengthen our economic security at home," he said, adding that the EU is a reliable and predictable trading partner and will remain so.
The 27-nation bloc already has trade agreements with 76 countries, recently concluded negotiations on a new partnership with Mexico, Switzerland and four South American countries that are members of the Mercosur common market, continues talks with India, Thailand, the Philippines and Indonesia and has also started trade negotiations with the United Arab Emirates.
"The goal of these trade agreements is to create win-win partnerships that are reliable and rules-based," Dombrovskis said.
European officials have avoided harsh messages in their responses to President Donald Trump's harsh criticism of US-Europe trade relations and have stressed the need for reliable and predictable ties.
The EU froze the first countermeasures against Trump's tariffs for 90 days on April 10, but European Commission President Ursula von der Leyen warned that all options are still on the table regarding countermeasures.
