The European Union has pledged to defend its interests following a threat from US President Donald Trump to impose a 50% tariff on goods from the 27-member bloc. EU’s top trade official, Maros Sefcovic, stated that he spoke with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick on the issue, emphasizing the EU’s commitment to securing a mutually beneficial deal.
“The EU is fully engaged, committed to securing a deal that works for both,” Sefcovic said, adding that the EU Commission remains ready to work in good faith towards an agreement. “EU-US trade is unmatched and must be guided by mutual respect, not threats. We stand ready to defend our interests.”
Trump posted on his Truth Social platform that he is recommending a huge 50% duty on the EU starting June 1, citing stalled talks. However, Sefcovic’s sentiments were echoed by European leaders who warned that tariffs would hurt both sides. German Economy Minister Katherina Reiche emphasized the need for a negotiated solution, stating, “Everything must be done to ensure that the European Commission reaches a negotiated solution with the United States.”
French Foreign Minister Laurent Saint-Martin added that the bloc prefers de-escalation but is ready to respond. Trump’s threat has sparked concern, with potential implications for hundreds of billions worth of exported goods. If implemented, the tariffs would put the European Union at a disadvantage compared to China, which recently had its tariffs cut to facilitate negotiations between Washington and Beijing.
In a statement that seemed to contradict Sefcovic’s remarks, Trump told reporters in the Oval Office, “I’m not looking for a deal… We’ve set the deal. It’s at 50 percent.” However, he hinted that he might delay tariffs if European companies made significant investments in the US. Trump’s announcements led to a decline in stock markets on both sides of the Atlantic, with the S&P 500 down 0.8% and the pan-European STOXX 600 index falling 1.2%.