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Topics: US News, World News, Politics, Donald Trump
Poppy Bilderbeck
Topics: US News, World News, Politics, Donald Trump
The EU commission has revealed what deal it's offered Donald Trump amid the ongoing tariff war which has 'successfully' worked with 'many other trading partners'.
Back in March, Trump threatened the European Union with 200 percent tariffs on specific goods if it didn't remove what the POTUS branded a 'nasty' tax - the tax being on whisky.
Trump's threat came as a response to the European Union (EU) commission cranking up taxes in retaliation to the US inflicting 25 percent tariffs on steel and aluminium imports.
Then the so-called 'Liberation Day' came, with Trump marking the 'rebirth' of the American industry by slapping even more tariffs on countries across the globe, including hiking tariffs to 20 percent on goods from the EU.
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However, it would appear the EU is now offering the US an olive branch.
A press statement shared yesterday (April 7) by President von der Leyen with Norwegian Prime Minister Jonas Støre explains the pair have 'discussed the effects of US tariffs'.
It continues: "These tariffs come first and foremost at immense costs for US consumers and businesses. But at the same time, they have a massive impact on the global economy. Developing countries are hit especially hard. This is a major turning point for the United States.
"Nonetheless, we stand ready to negotiate with the US. Indeed, we have offered zero-for-zero tariffs for industrial goods as we have successfully done with many other trading partners. Because Europe is always ready for a good deal. So we keep it on the table."
However, the statement isn't without warning.
The statement notes the EU is 'also prepared to respond through countermeasures and defend our interests'.
It resolved: "And in addition, we will also protect ourselves against indirect effects through trade diversion. For this purpose, we will set up an ‘Import Surveillance Task Force'.
"We will work with industry to make sure we have the necessary evidence base for our policy measures. We will stay in very close contact to minimise effects of our actions on each other.
"[...] We are discussing the response to the US but also the other two pillars of our strategy: the one is strengthening our Single Market, so getting rid of remaining barriers. The other pillar is diversifying our trade relations."
Alas, Trump's response to the offer hasn't seemed too positive, the POTUS telling reporters outside the White House the EU would need to commit to buying $350 billion of American energy and he'd only consider a deal if it put 'America first'.