Customs conflict: EU offers USA -compensation of 50 billion euros

In view of the impending US criminal offense, the EU Commission promises the United States a trade offer of 50 billion euros. Purchases of liquid gas (LNG) or agricultural products such as soybeans from the USA could quickly contribute to reducing bilateral trade deficits, said EU trade commissioner Maros Sefcovic in an interview with the newspaper “Financial Times”. The EU wants to counteract an escalation of the transatlantic trade conflict.

Despite “certain progress” in the negotiations, Sefcovic emphasized that Brussels did not consider higher US tariffs-in particular a ten percent levy as a new lower limit-as an acceptable solution. “This is a very high level,” he said. The EU is not ready to agree to a deal that permanently fixes such tariffs.

Agree until July – or tariffs

At the beginning of April, US President Donald Trump announced additional tariffs from at least ten percent on imports from almost all countries and promised for certain partners-including the EU-“reciprocal”, i.e. mutual, measures of 20 percent. These are currently exposed to a 90-day negotiation period. Without agreement, extensive tariffs could come into force from July.

In response, the EU has put planned counter-tariffs on US goods worth 21 billion euros by July 14th-products such as motorcycles, poultry and textiles are affected. However, Sefcovic emphasized that the Member States were willing to support new retaliation if there is no agreement. “We will work carefully with every Member State to find a unanimously supported answer,” he said.