Navigating U.S.-EU Trade Turmoil: A Dance of Diplomacy and Tariffs
The European Commission calls for mutual respect in trade talks with the U.S. after Trump's tariff threats. EU officials emphasize negotiation and de-escalation, aiming for a mutually beneficial agreement. The proposed tariffs could destabilize economies, with leaders preparing countermeasures if needed.
The European Commission appealed for diplomacy in trade negotiations, urging the U.S. to avoid threats, as President Trump floated a 50% tariff on EU goods. Despite tensions, EU trade chief Maros Sefcovic reiterated the bloc's commitment to a fair deal.
Stock markets reacted negatively to the potential tariff hike, which also included a possible 25% duty on Apple iPhones. The EU stands ready to defend its interests if the tariff war escalates, according to economists and officials.
Leaders, including Poland's deputy economy minister and Dutch Prime Minister, called for continued negotiations. The European Commission remains firm in seeking a deal without unilateral concessions, while preparing countermeasures should talks fail.
(With inputs from agencies.)
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