The EU is already preparing for trade talks with Trump to fail — and is readying a major retaliation
Business Insider
Published Jul 19, 2018 07:43AM ET
Updated Jul 19, 2018 09:42AM ET
- The European Union is set for crunch talks with the Trump administration over possible US tariffs on automobiles made in Europe.
- Officials are preparing for the worst and readying a list of retaliatory tariffs should they fail to reach an agreement with President Donald Trump.
- "If the US would impose these car tariffs, that would be very unfortunate, but we are preparing together with our member states a list of rebalancing measures as well," the EU's trade chief said on Thursday.
European Union officials are preparing for the worst ahead of talks with the US about the future of trade.
President Donald Trump and his administration are considering tariffs of as much as 20% on US automobile imports from Europe. EU officials are readying a list of retaliatory tariffs with should the two sides fail to reach an agreement.
Senior EU officials, including the European Commission's president, Jean-Claude Juncker, are set to fly to Washington, DC, next week with the aim of persuading Trump not to levy punitive tariffs on European automobiles. The EU is preparing to hit back, however, if he cannot be persuaded.
"The aim of President Juncker's visit is to try to establish a good relation, try to see how we can de-escalate the situation and avoid it from going further and see if there is a forum where we can discuss these issues," Cecilia Malmstrom, the EU's trade chief, said at a press conference on Thursday.
"If the US would impose these car tariffs, that would be very unfortunate, but we are preparing together with our member states a list of rebalancing measures as well," she added.
warning about the possible effect of tariffs on US auto workers and consumers .
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Written By: Business Insider
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