Synopsis
The European Commission has criticized US tariffs imposed on Canada, Mexico, and China, emphasizing their negative impact on global trade and vowing to respond decisively if targeted.Key Takeaways
- EU disapproves of US tariffs
- Concern over economic disruption
- Potential retaliation from EU
- Trade relations with US at stake
- Global trade dynamics affected
Brussels, Feb 3 (NationPress) The European Commission has expressed its disapproval of the tariffs imposed by US President Donald Trump on three nations, asserting that they disrupt global trade and are detrimental to all parties involved. The EU has pledged to retaliate if targeted.
"The European Union (EU) laments the US decision to levy tariffs on Canada, Mexico, and China," an EU representative stated in local media reports.
He emphasized the significance of open markets and adherence to international trade regulations, which are vital for robust and sustainable economic growth. "Tariffs generate unnecessary economic turmoil and contribute to inflation. They negatively impact everyone involved," he remarked.
Addressing potential US tariffs on EU products, the spokesman declared, "the EU will respond decisively to any trading partner that unfairly or arbitrarily imposes tariffs on EU products."
According to him, "Our trade and investment relationship with the United States is the most substantial globally. There is much at stake."
Since the onset of Trump's second term, Brussels has been advocating for enhanced transatlantic relations and has made concerted efforts to avert a trade conflict with Washington through dialogue. However, Trump reaffirmed his intentions by stating that he would "absolutely" impose tariffs on EU goods last week.
On Saturday, Trump signed an executive order to introduce a 10% tariff increase on goods imported from China and a 25% tariff on products from Mexico and Canada. This move has elicited widespread condemnation and immediate retaliatory actions, according to reports from Xinhua news agency.
In reaction, China's Ministry of Commerce announced on Sunday that it would file a complaint with the World Trade Organization and implement corresponding countermeasures to firmly protect its rights and interests.
Canadian Prime Minister Justin Trudeau announced on Saturday that Canada plans to impose a 25% levy on $21 billion worth of American goods starting Tuesday.
Mexican President Claudia Sheinbaum has directed the Secretariat of Economy to enact tariff and non-tariff measures to safeguard Mexico's interests.
