EU in early talks with US but preparing ‘robust’ tariff countermeasures, says trade chief – Europe live

EU in ‘early levels’ talks with US, however finalising listing of countermeasures after metal and aluminium tariffs

Šefčovič says the EU is “in early levels of discussions” with the US, sophisticated “as a result of the US view tariffs not as a tactical step, however as a corrective measure.”

However he says that “ whereas the EU stays open to and strongly prefers negotiations, we won’t weigh endlessly till we see tangible progress.”

The EU has ready a “strong listing of countermeasures” on metal and aluminium after receiving suggestions from over 600 stakeholders.

“After fastidiously reviewing all of it, now we have labored to desk a sturdy listing of countermeasures, whereas balancing the burden throughout all member states, we might be sending the ultimate listing and tariff ranges to them later at this time,

The vote is ready for 9 April, with the ultimate listing adopted on 15 April, after which duties on merchandise will kick in on that day for the primary set of measures, and on 15 Might for the remaining ones.”

Key occasions

Closing abstract

Jakub Krupa

… and on that notice, it’s a wrap from me, Jakub Krupa, for at this time.

EU commerce commissioner Maroš Šefčovič mentioned the EU-US commerce was “in a troublesome cease” however he hoped the EU and EU would “ultimately” find yourself at a negotiation desk, as he hoped for a negotiated resolution to prolonging uncertainty surrounding US president Donald Trump’s tariffs (16:18).
However the Slovak politician admitted that “till now, regardless of of efforts … we haven’t seen the actual engagement which might result in the mutually acceptable resolution” from the US aspect (16:12), as he warned that the Trump administration gave the impression to be decided to ship an ideological sign to markets (16:30).
Šefčovič additionally spoke a few “clear distinction of opinion” on figures in EU-US commerce, arguing it it’s mistaken to take a look at commerce in items in isolation, with out companies, mutual funding, and different devices.
European Fee president Ursula von der Leyen earlier mentioned that “Europe is at all times prepared for whole lot,” however signaled the bloc was “additionally ready to reply via countermeasures and defend our pursuits” (15:00).
Outgoing German financial system minister Robert Habeck supplied a brutal takedown of the US tariffs, saying the underlying calculations have been “nonsense,” and “mistaken,” as he urged US to “cease the nonsense … the mess you’ve made within the final week” (11:12).

And that’s all from me, Jakub Krupa, for at this time.

If in case you have any ideas, feedback or solutions, electronic mail me at jakub.krupa@theguardian.com.

I’m additionally on Bluesky at @jakubkrupa.bsky.social and on X at @jakubkrupa.

World results of US tariffs ‘could possibly be profound,’ UK’s Starmer says

British prime minister Keir Starmer spoke about US tariffs this afternoon too, warning that international penalties of Trump’s transfer “could possibly be profound.”

No one is pretending that tariffs are excellent news. that higher than anybody – 25% tariffs on automotive exports and 10% on different items, that may be a big problem for our future, and the worldwide financial penalties could possibly be profound.

Starmer mentioned we stay in a brand new period, the place the outdated assumptions don’t apply any extra, that he calls the age of insecurity.

For extra on his feedback and the UK’s plans, see Andrew Sparrow’s UK stay weblog right here:

‘Clear distinction of opinion’ on figures with US, EU commerce commissioner says

In response to the ultimate query of the convention, Šefčovič says the EU and the US have “a transparent distinction of opinion” in regards to the figures as he says it’s mistaken to take a look at commerce in items in isolation, with out companies, mutual funding, and different devices.

In a touch at a possible US vulnerability, he provides: “I’m not even going into the course of billions the US firms are producing from internet advertising and completely different digital companies that they’re providing in Europe.”

He ultimately says that the precise deficit that would wish rebalancing isn’t larger than 50 billion euros.

“If we all know that that is the difficulty, I feel then we will kind it out in a short time.

However my feeling is that at this stage it’s extra of a, I might say, choice of US administration to … remodel the worldwide buying and selling system, and so they see the tariffs as a corrective measures for lots of the political targets, which I’m positive the US administration can describe a lot better, a lot better than I [can.”

They conclude the press conference here.

‘Black day for markets’ with biggest ‘paradigm shift’ since WW2, EU trade commissioner says

Šefčovič says he sees today’s market reactions as “a kind of black day for the markets … all over the world,” saying ministers described it “as the most important paradigm shift in global trading patterns since the second world war.”

“This introduces a lot of uncertainty, lack of predictability, inflation fears and the fact that tariffs are, in the end, the taxes which will be paid by the businesses, but especially by the final consumers,” he says.

He says the tariffs prompted fears among consumers on spending, inflation, jobs, and future prospects.

“So these are the I would say the debates which are now taking place, I would say all across the world … and I’m not even going to tell you [about] the distressed cellphone calls we’re getting from rising economies and from the creating nations,” he says.

He repeats that the EU might be “cautious” and reply in a “measured and properly calibrated manner.”

“We all know what sort of impression this might need on the actual financial system and on the folks, and due to this fact you see that we’re actually progressing step-by-step on this regard.

However I wouldn’t dare to take a position if it will have an effect on choice making throughout the Atlantic.”

On a barely extra upbeat notice, Šefčovič says that he hopes that “ultimately, we’ll be sitting on the negotiating desk … and I hope that we’ll be capable of arrive on the mutually acceptable compromise, which might restore our shut buying and selling relationship.”

He says the main target in any such talks could be on “trying on the methods decrease or do away with the tariffs … on vehicles and industrial items in February, and we might focus our efforts on that effort, create this transatlantic market for industrial items, for the applied sciences of the longer term and for the great cooperation between two transatlantic allies.”

Šefčovič says the EU stays “ready to interact” and says the bloc’s desire could be to discover a negotiated resolution.

However he then says that “till now, regardless of of efforts … , we haven’t seen the actual engagement which might result in the mutually acceptable resolution, as a result of it must be truthful for either side.”

He says that there are questions from the US on VAT – which was repeatedly criticised by Trump – however he says the EU wouldn’t be ready to alter its guidelines.

He then provides that:

“We’re prepared to debate, to take a look at issues, but it surely must be a mutually advantageous resolution.”

EU commerce commissioner Šefčovič says the EU’s timeline on countermeasures on metal and aluminium is pushed by authorized evaluation.

However he provides “it’s not potential now to delay the entry into power” as some nations, equivalent to Italy, seemed to be asking for it.

“We count on the vote on Wednesday and if the vote is constructive, then we’ll proceed with 15 April,” he says.

Extra broadly, he says “we’re prepared to contemplate all choices.”

“All choices are on the desk, and we’ll seek the advice of with the stakeholders and with our member states, use all of the devices now we have at our disposal,” he says.

Šefčovič will get requested in regards to the proposed “zero-for-zero” tariff take care of the US, and the reception it received from the US.

The Slovak politician says it was floated in his first assembly with US commerce secretary Howard Lutnick.

He says the US focus seems to be on “Huge 5” areas: vehicles, pharmaceutical, metals, lumber and semiconductors.

Šefčovič says the EU was prepared to alter guidelines on private automobiles and discover a deal, with a “zero-for-zero” deal, and probably extending it to different industrial merchandise.

“I hope that in future we’d be prepared to come back again to this dialogue, not now. [but] I imagine that sooner or later this could be nonetheless the chance,” he says.

New US tariffs ‘power’ EU to look to reply

Šefčovič says that whereas the main target to this point has been on finalising metal and aluminium countermeasures, the announcement of the brand new “so-called reciprocal tariffs … forces us to take a look at extra steps.”

“We received some invaluable enter from the member states, from the ministers, which we after all, consider, and we’ll proceed, as at all times, within the shut consultations with our member states and with the important thing stakeholders,” he says.

EU in ‘early levels’ talks with US, however finalising listing of countermeasures after metal and aluminium tariffs

Šefčovič says the EU is “in early levels of discussions” with the US, sophisticated “as a result of the US view tariffs not as a tactical step, however as a corrective measure.”

However he says that “ whereas the EU stays open to and strongly prefers negotiations, we won’t weigh endlessly till we see tangible progress.”

The EU has ready a “strong listing of countermeasures” on metal and aluminium after receiving suggestions from over 600 stakeholders.

“After fastidiously reviewing all of it, now we have labored to desk a sturdy listing of countermeasures, whereas balancing the burden throughout all member states, we might be sending the ultimate listing and tariff ranges to them later at this time,

The vote is ready for 9 April, with the ultimate listing adopted on 15 April, after which duties on merchandise will kick in on that day for the primary set of measures, and on 15 Might for the remaining ones.”

EU commerce with US ‘in robust spot,’ EU commerce commissioner says

EU commerce commissioner Maroš Šefčovič says that the EU’s commerce scenario with the US is “in a troublesome spot.”

He says that “70% of our whole exports are dealing with tariffs of 20% of 25% and even larger.”

He acknowledges latest conferences together with his US counterparts, as he says the 2 sides agree that “the EU-US commerce relationship may benefit from a contemporary look and a lift in strategic areas,” noting each markets “face related challenges.”

He repeats von der Leyen’s remark from final half hour that the EU “now we have supplied zero for zero tariffs for vehicles and all industrial items.”

Opening the briefing after the ministerial council on commerce, Polish deputy financial system minister Michał Baranowski says “the message that got here out from the council is very a lot a message of unity.”

“It’s very clear that there aren’t any winners, and this was one thing that was emphasised by all of the member states. All of us would like a negotiated resolution that takes us away from the potential commerce battle that may result in a lack of jobs, result in lack of wealth,” he says.

He says that the EU has a “ready response” on metal and aluminium which might be put ahead “quickly”, however burdened that, in the meanwhile the bloc isn’t specializing in “the so referred to as reciprocal tariffs.”

He says he describes them as “so calls reciprocal tariffs” as “the methodology utilized by the US aspect isn’t but completely clear to us.”

EU ‘prepared to barter’ with US with provide of zero tariffs on industrial items, however planning defend pursuits, von der Leyen says

As we look ahead to the press convention after the ministerial assembly, European Fee president Ursula von der Leyen shared her views on US tariffs, as she welcomed Norwegian prime minister Jonas Gahr Støre to Brussels.

European Fee president Ursula von der Leyen, proper, and Norway’s prime minister Jonas Gahr Retailer deal with journalists throughout a media convention at EU headquarters in Brussels. {Photograph}: Virginia Mayo/AP

She mentioned that the US tariffs “come … at immense prices for US customers and companies,” as she insisted the EU “stand prepared to barter with the US.”

“Europe is at all times prepared for whole lot. So we preserve it on the desk,” she mentioned, including the EU “supplied zero for zero tariffs for industrial items, … as a result of Europe is at all times prepared for whole lot.”

However she added the EU was “additionally ready to reply via countermeasures and defend our pursuits,” because it regarded to step up its safety towards “oblique results [of] commerce diversion.”

Von der Leyen mentioned she engaged with key industrial stakeholders throughout the bloc to seek the advice of on subsequent steps.

She additionally burdened that the EU ought to work on “strengthening our single market [by] eliminating remaining boundaries” in response to tariff disruptions.