EU officials have announced a temporary "suspension" of retaliatory tariffs against the US on products such as whiskey and bourbon, at least until the middle of next month.
Separately, officials from the European Union said on Thursday they would delay their retaliation against steel and aluminum tariffs imposed by US President Donald Trump.
The temporary cancellation of 50% taxes on American whiskey and other goods is seen as an attempt by the Union to more carefully calculate its future moves in the face of the trade war launched by Trump.
As the New York Times reports, citing a statement by EU spokesman Olaf Gill, this move is intended to give officials time to refine the list of products that will be affected by European retaliatory tariffs, while also giving the EU more time to reach a more favorable agreement with the US, in an effort to prevent a trade war, with costs for both consumers and the companies themselves.
"The EU and the US enjoy the largest bilateral trade and investment relationship in the world," said Maros Sefcovic, the bloc's Trade Commissioner, during a speech in Brussels on Thursday.
"It should be a priority for both sides to protect and further develop this relationship," he underlined.
In a phone call with his European counterparts earlier, Seftovic was told that the Trump administration does not want to negotiate on trade until April 2, when the United States is expected to announce a new and even more comprehensive round of tariffs on its global trading partners.
It is noted that, according to the European plan proposed by the Commission, tariffs are expected to be imposed on American products worth 26 billion euros.
In its announcement, the Commission emphasizes that the European plan will be developed in two phases.
First, the Commission will end the suspension of existing countermeasures against the US. These countermeasures target a range of US products that respond to the economic damage caused to EU steel and aluminium exports worth €8 billion.
In the second phase – which will be delayed – “in response to new US tariffs affecting EU exports worth over €18 billion”, the Commission is proposing a package of new countermeasures on US exports. “They will enter into force from mid-April, after consultation with member states and stakeholders,” Stefovic announced earlier this month.
Of course, Donald Trump had declared at another stage his intention to impose a 200% tariff on champagne, wine and other European alcoholic beverages - moving on to the "counterattack" to this European plan on American whiskey.
However, these threats from the American president have sounded the alarm for European leaders from wine-producing countries.
Notably, Italy's Prime Minister Giorgia Meloni warned of a "vicious circle" of trade measures and France's Prime Minister François Bayrou said Europe risks "hitting the wrong targets". (A2 Televizion)
A2 CNN Livestream
MUND TE LEXONI GJITHASHTU
