We will defend our interests…a European response to Trump’s announcement of imposing customs duties

Commenting on Trump’s announcement regarding possible customs duties, European Commissioner for Economic Affairs Valdis Dombrovskis affirmed that the European Union is ready to defend its interests if necessary.
He warned that any trade dispute would have great economic costs for everyone, including the United States.

The US President said in his swearing-in speech in Washington on Monday that he would impose customs duties and taxes on foreign countries, without detailing these measures.

Trump’s threats to impose tariffs

Dombrovskis pointed out that the European Union responded in a proportional manner to the customs duties imposed on European steel and aluminum exports to the United States during Trump’s first term (2017-2021), by imposing duties on American imports such as Harley Davidson motorcycles and bourbon whisky.

Before assuming the presidency, Trump made strong threats to impose tariffs, especially against the European Union, the largest trading partner of the United States, Canada, Mexico, and China.

In the face of the looming threat, the European Union’s strategy for months has been to call for cooperation between the bloc and the United States rather than confrontation.

America and Europe are strategic allies

“The European Union and the United States are strategic allies, and we need to work together, especially in this turbulent geopolitical context,” Dombrovskis said.
He also pointed out the need to work to strengthen the European Union’s economy, especially by seeking to diversify the bloc’s trade partnerships.

The European Union announced an enhanced trade agreement with Mexico ahead of Trump’s inauguration, and announced on Monday that it would resume talks aimed at reaching a free trade agreement with Malaysia.