The European Union sees “no justification” for an imposition of additional tariffs on EU products by the United States and is prepared to respond “firmly and swiftly” if they are introduced, European Trade Commissioner Maros Sefcovic said on Wednesday in Washington.
Sefcovic dismissed claims in the US capital that European tariffs are higher than existing US tariffs. The data shows that this is incorrect, he stated, noting that “the European Union is one of the most open economies in the world, with more than 70% of imports entering at zero-tariff.”
Since Donald Trump returned to power in the United States, he has indicated on multiple occasions that he will impose “reciprocal tariffs” to match the duties imposed by the countries of origin of similar products.
Trump also announced the reinstatement of tariffs on steel and aluminium, similar to those imposed during his first term.
“When we look at EU-US trade relations, the overall picture is very balanced,” said Sefcovic. On average, US products are taxed at 0.9 % in the EU, while European products face a 1.5 % tariff in the United States, he explained.
The Trade Commissioner acknowledged that there were “higher tariffs” on certain products on both sides of the Atlantic. Examples include US cars in Europe and European trucks in the USA.
However, considering the bigger picture, there is no justification for a sudden and unilateral increase in US customs duties, Sefcovic argued.
