Navigating Trade Tensions: EU's Strategy Against U.S. Tariffs

EU Council President Antonio Costa has urged maintaining a constructive dialogue with the U.S. to avert a trade war over tariffs. Speaking ahead of the G7 meeting in Canada, Costa highlighted the EU's preparedness to respond to any discriminatory measures by the U.S. as the bloc aims to prevent economic conflict.

President Donald Trump has put a hold on his earlier threat of imposing 50% tariffs on EU imports, extending the deadline to allow negotiations with the 27-member European Union. The EU has proposed a zero-tariff arrangement, aiming to foster a cooperative environment and mitigate tensions.

The European Union exported goods worth approximately 500 billion euros to the United States last year, with Germany, Ireland, and Italy being the top exporters. Key sectors include pharmaceuticals, automotive parts, chemicals, and aviation, highlighting the importance of maintaining healthy trade relations across these industries.

(With inputs from agencies.)