US President Trump’s suggestion today that he is recommending a 50% tariff on EU imports from 1 June is enormously disappointing.
I welcomed the pause in tariffs until early July to allow for continued negotiations between the EU and the US, and ideally an agreed outcome.
I have always been clear in my view that tariffs are damaging to all sides – those imposing them, those on the receiving end and, most importantly, to businesses and consumers.
A negotiated outcome is the best possible result for both sides, as well as for global trade.
The EU has been engaging in good faith in that process and I understand Commissioner Šefčovič was due to talk to his US counterpart again this afternoon.
Tariffs at the level suggested would not only push prices up, they would grievously damage one of the world’s most dynamic and significant trading relationships, as well as disrupting wider global trade.
We do not need to go down this road.
Negotiations are the best and only sustainable way forward.
ENDS
