The European Union is developing a two-stage trade strategy to counter Donald Trump in case he becomes president of the United States again, Babel reports.
According to the Financial Times, Trump has already announced a plan to introduce a universal import tax of 10%, which is several times higher than the current level. EU representatives believe that the introduction of the fee will reduce exports from the EU by about €150 billion annually.
In addition, the negotiators plan to contact Trump’s team, if he wins the election in November, before he takes office to discuss which American goods the EU could buy in larger quantities.
In the event that negotiations to improve trade fail and Trump imposes higher tariffs, the European Commission’s trade department is drawing up lists of imports on which it may impose duties of 50% or more.
We have to show that we are a partner for the US, not a problem. We will look for deals, but we are ready to defend ourselves if it comes to that. We will not be guided by fear, – the source told the FT.
After Trump imposed tariffs on €6.4 billion worth of steel and aluminum imports from the EU and other countries in 2018 on national security grounds, the EU retaliated by imposing tariffs worth €2.8 billion. Ukrainian steel products were also subject to these duties.
