The European Commission sees President Trump's proposed "reciprocal" trade policy as a step in the wrong direction. The EU remains committed to an open and predictable global trading system that benefits all partners.
The EU maintains some of the lowest tariffs in the world and sees no justification for raising US tariffs on its exports. Tariffs are taxes. By imposing tariffs, the US is taxing its own citizens, raising costs for businesses, stifling growth and encouraging inflation. Tariffs increase economic uncertainty and undermine the efficiency and integration of global markets.
World trade thrives on predictable, transparent rules and low tariffs. For decades, the EU has worked with trading partners like the US to reduce tariffs and other trade barriers around the world, and has strengthened this openness through binding commitments in a rules-based trading system - commitments that the US is now undermining.
The EU is thriving as one of the most open economies in the world, with more than 70 % of imports entering at zero duty. The average tariff rate applied to imported goods in the EU remains one of the lowest in the world. Economic integration and the elimination of trade barriers are fundamental to the success of the European Union.
We believe in trade partnerships that are mutually beneficial and balanced, based on transparency and fairness. This is also why the EU has the largest and fastest growing network of trade agreements in the world. The EU has negotiated and concluded more than three times as many trade agreements as the US.
The EU will react firmly and immediately to unjustified barriers to free and fair trade, including where tariffs are used to undermine legal and non-discriminatory policies. The EU will always protect European businesses, workers and consumers from unjustified tariff measures.
EC/ gnews.cz - RoZ
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