Brussels/Washington – The EU hopes to avoid a painful scenario of imposing customs measures and countermeasures. This was pointed out by the European Commissioner for Trade and Economic Security, Maroš Šefčovič, at an event organized by the American Enterprise Institute on the topic “EU-USA Cooperation in Trade and Economic Security” in Washington on Wednesday, reports the TASR correspondent.
The Slovak Commissioner referred to the subject of imposing new tariffs, recalling how often claims are heard that the EU imposes higher tariffs on imports than the USA, however, according to him, the data tells a different story. He clarified that in terms of mutual trade relations, the overall picture is “very balanced” and provides equal conditions for businesses on both sides of the Atlantic, with the EU’s average duty on goods from the USA being 0.9%, while an average duty of 1.5% applies to exports from the EU to the USA.
He confirmed that the level of tariffs varies for some products, however, there are “tariff peaks” on both sides. For example, the EU has the highest tariff on the import of passenger cars, while the USA has the highest tariff on trucks from Europe. And in some sectors, US duties are higher than European ones. Agri-food products from the USA are subject to a 3.5% tariff when entering the Union, while EU agricultural products are subject to a 5.7% tariff in the USA.
“In light of these facts, the EU sees no justification for a sudden and unilateral increase in tariffs by the USA,” Šefčovič declared. He added that European businesses rely on economic stability, predictability, and certainty on both sides of the Atlantic.
According to him, if Americans impose tariffs on EU products, it will create unnecessary barriers to European exports, harming businesses and workers on both sides.
“Therefore, to ensure the protection of European interests, we will have no choice but to respond firmly and quickly. However, we hope to avoid the scenario that means unnecessary pain from measures and countermeasures, and that we remain committed to constructive dialogue,” Šefčovič declared, referring to his several-day stay in the United States, where this week he has scheduled working meetings with top representatives of American trade policy and also with several senators.
In this regard, Šefčovič paraphrased former US President Ronald Reagan, saying “trade is not war, but an economic alliance from which both sides benefit”.
“The EU remains convinced that fighting for free and fair trade is worthwhile. And in this context, we will continue to shape our own destiny,” Šefčovič stated, concluding his speech by expressing hope that it makes sense for the EU and the USA to cooperate in strengthening the “most natural transatlantic bond” and extending it into new areas. (February 19)
“To ensure the protection of European interests, we will have no choice but to respond firmly and quickly. However, we hope to avoid the scenario that means unnecessary pain from measures and countermeasures, and that we remain committed to constructive dialogue.” Maroš Šefčovič
