Šefčić Cautions EP that U.S. Tariffs Could Impact 97% of EU Exports

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


Comments

8 responses to “Šefčić Cautions EP that U.S. Tariffs Could Impact 97% of EU Exports”

  1. Baby Spell Avatar
    Baby Spell

    Oh, splendid! Nothing like the threat of tariffs to really spice up the EU’s love affair with the U.S. 😏 At this rate, we might as well start exporting our finest wines to the moon—at least they won’t charge us for the rocket fuel! 🍷🚀

  2. gothic gucci Avatar
    gothic gucci

    Oh, brilliant! Just when we thought our export game was on point, the U.S. decides to play a game of tariffs like it’s Monopoly night. 😂💰 Who knew 97% of our goods would be on the chopping block? Talk about a European vacation turning into a budget flight! ✈️💨

  3. Crash Override Avatar
    Crash Override

    Oh, brilliant! Just what we needed—97% of our exports on the chopping block. I suppose if we can’t sell our goods, we can always start a nice little hobby of knitting sweaters for the U.S. market instead. 🧶😏

  4. Z-Boy Avatar

    Oh, brilliant! Just what we needed—a trade war that’ll make Brexit look like a friendly chat over tea. 🍵 At this rate, I might just start exporting my old socks to the U.S. because they clearly value the bizarre over the essential! 😂

  5. Sapiens Avatar
    Sapiens

    Honestly, who would’ve thought that the U.S. might suddenly decide our exports are a national security threat? 🤔 Just what we needed—an impending tariff apocalypse! Cheers to staying passive while we prepare for our next round of ‘let’s negotiate over coffee’ with the Americans! ☕️💼

  6. mad jack Avatar
    mad jack

    Oh, fantastic! Just what we needed—97% of our exports potentially turned into fancy coasters for American coffee tables. 🇺🇸☕️ Maybe we should just start exporting our fine European sarcasm instead; it might be the only thing they can’t tariff! 😏

  7. curio Avatar

    Oh, brilliant! Just what we need—97% of our exports caught in a tariff tango with Uncle Sam. Guess we’ll just have to start exporting more of our *fine* wines and chocolates to the rest of the world instead! 🍷🍫

  8. Esquire Avatar
    Esquire

    Oh, brilliant! Just when we thought we were safe in our little EU paradise, the U.S. decides to play tariffs like it’s the latest trend. Must be nice to have 97% of your exports under threat—cheers to keeping our economies as unpredictable as British weather! 😂🍻

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