The European Commission has firmly opposed the proposed reciprocal trade tariffs by US President Donald Trump, asserting that such measures lack justification. For more detailed information, see the full report from GMK Center.

Read also: Stock Market Resilience Amidst Tariff Threats

The Commission, representing the 27-nation European Union, highlighted the inefficacy of the proposed tariffs, emphasizing the bloc’s already low tariff rates globally, with over 70% of imported goods entering the EU duty-free. In contrast, a White House fact sheet notes disparities in specific tariffs, such as a 10% levy on car imports in the EU compared to 2.5% in the US.

The EU stands prepared to take decisive measures against any unjustified trade restrictions. European Commission President Ursula von der Leyen has committed to strong and proportionate reprisals if tariffs are imposed on steel and aluminum, effective March 12, 2025. Despite EU trade ministers advocating for a more conciliatory approach through negotiations, there remains a consensus on preparing robust countermeasures.

IndexBox data further supports that the EU retains a competitive edge due to its lower tariff regime, positioning itself as a major player in global trade without resorting to protectionist policies. Ireland’s Foreign Minister Simon Harris echoes the sentiment, advocating for strategic dialogue during the investigation period initiated by President Trump to address disparities.

Source: IndexBox Market Intelligence Platform