A senior European Union official stressed the importance of active and fair engagement on trade during a four-hour meeting with President Trump administration officials, in the hope of averting a potential trade conflict.
"The main objective, as presented to us yesterday by our American partners, is reciprocity," Maros Sefcovic, the European Commissioner for Trade and Economic Security, told the media on Thursday.
Mr. Sefcovic met on Wednesday with Commerce Secretary Howard Lutnick, White House National Economic Council Director Kevin Hassett, and Jamieson Greer, President Donald Trump's nominee as United States Trade Representative.
President Donald Trump's pledge to impose reciprocal tariffs on European imports has shaken up the long-standing partnership between the United States and Europe. President Trump has said that the US tariffs will be in line with the taxes imposed on American imports.
President Trump's plan for fair tariffs would also include a value-added tax, which could increase import duties and could trigger a broader trade conflict if the EU retaliates.
A broader trade war risks slowing the economy and raising inflation, creating financial challenges for millions of families. In such a case, it would damage political support for President Trump, who voters elected on the promise of improving the economy.
President Trump has also proposed specific tariffs on various sectors, such as the auto industry, pharmaceuticals and computer equipment. Meanwhile, tariffs of 25% have been imposed on steel and aluminum imports.
The US president has frozen tariffs on Mexico and Canada, giving them 30 days to negotiate further and implement demands to do more against illegal immigration and drug smuggling. The import duties, which are likely to hurt the US auto industry and other sectors, could take effect in March.
The director of the White House National Economic Council, Kevin Hassett, said during the press conference that the Mexican delegation had held talks with him and Commerce Secretary Howard Lutnick to resolve the issues.
"We want fair trade," said Mr. Hassett.
European Commissioner for Trade and Economic Security Maros Sefcovic said he had discussed China's industrial capacity, mainly in steel, with his US counterparts. He said the United States and the EU should work together to address the problem, rather than fighting each other. VOA (A2 Televizion)
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