Brussels/Strasbourg – During a plenary session of the European Parliament in Strasbourg on Tuesday, European Commissioner for Trade and Economic Security Maroš Šefčovič expressed concerns about the potential for new tariffs on EU exports by the United States, which could impact as much as 97 percent of exported goods. This information was communicated by a TASR correspondent.
Šefčovič highlighted that, in addition to the ongoing investigation into timber imports, the US government has recently initiated six additional inquiries to evaluate the effects of imports on national security. He noted that the sectors currently under scrutiny include pharmaceuticals, semiconductors, critical raw materials, as well as trucks and truck components.
If these investigations culminate in the imposition of new tariffs, as indicated by President Donald Trump earlier this month, 97% of EU exports to the United States would face new import tariffs, affecting a trade volume estimated at 549 billion euros.
“This situation is clearly unacceptable, and we cannot afford to remain passive,” Šefčovič communicated to Members of the European Parliament (MEPs). He reiterated the European Commission’s commitment, on whose behalf he is negotiating with the US, to seek solutions that would avert the looming crisis.
“It is essential for the United States to demonstrate a willingness to reach a fair and balanced resolution,” he emphasized.
In addition to ongoing negotiations, Šefčovič indicated that the EU is preparing for potential legal challenges aimed at preserving and enhancing the global multilateral trading system based on established regulations. He also mentioned the EU’s intention to expedite trade discussions with other international partners. Current negotiations are underway with countries within the Association of Southeast Asian Nations (ASEAN), India, and the members of the Gulf Cooperation Council (GCC).
“The US represents 13 percent of global trade. That is significant. However, we must not overlook the remaining 87 percent,” Šefčovič remarked to the MEPs. (May 6)
“This situation is clearly unacceptable, and we cannot afford to remain passive. It is essential for the United States to demonstrate a willingness to reach a fair and balanced resolution.” Maroš Šefčovič
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