The European Union has expressed its readiness to negotiate a tariff-free trade deal with the United States but has also made it clear that it stands ready to retaliate if necessary.
During a meeting in Luxembourg on Monday, EU trade ministers discussed their response to US tariffs on steel and aluminium, with most agreeing that pursuing talks to avoid a full-scale trade war should be the priority.
Following the meeting, EU Trade Commissioner Maros Sefcovic told reporters that the bloc’s countermeasures would be adjusted based on feedback from member states.
“For steel, aluminium, and their derivatives, we are talking about 26 billion euros [$28 billion],” he said. “We are finalizing the list tonight, but I can assure you it won’t reach the 26 billion euro mark, as we have carefully listened to our member states.”
Earlier, European Commission President Ursula von der Leyen stated that the EU was open to negotiating a “zero-for-zero” tariff agreement on industrial goods. However, the EU confirmed it would begin imposing retaliatory tariffs on certain US imports next week.
“Sooner or later, we will sit at the negotiation table with the US and reach a mutually acceptable compromise,” Sefcovic added.
The first round of EU tariffs on US goods will take effect on April 15, with a second wave slated for May 15, directly in response to Washington’s steel and aluminium tariffs.
