Washington\u2019s levies affect around 70% of the bloc\u2019s total exports, according to Commissioner Maros Sefcovic<\/p>\n\n\n\n
The EU is ready to deploy \u201cevery tool\u201d to shield its market from the impact of US President Donald Trump\u2019s new tariffs if negotiations fail, Trade Commissioner Maros Sefcovic has said.<\/p>\n\n\n\n
Trump announced last week that Washington would impose levies ranging from 10% to 50% on imports from countries it accuses of unfair trade practices. The EU faces a blanket 20% tariff starting Wednesday.<\/p>\n\n\n\n
Speaking at a press conference on Monday, Sefcovic said the trade relationship with the bloc\u2019s largest partner was in a \u201ctough spot.\u201d He stressed that Brussels remained open to talks, but \u201cwill not wait endlessly.\u201d <\/p>\n\n\n\n
The new tariffs will hit a \u201csignificant portion\u201d of EU exports, Sefcovic warned, noting that around \u20ac380 billion ($410 billion) worth of goods \u2013 or about 70% of the bloc\u2019s total exports to the US \u2013 are now facing duties of 20% or higher.<\/p>\n\n\n\n
The additional charges would exceed \u20ac80 billion, compared with the \u20ac7 billion Washington currently collects, he added.<\/p>\n\n\n\n
\u201cWe are prepared to use every tool in our trade defense arsenal to protect the EU Single Market, EU producers, and EU consumers,\u201d Sefcovic stated.<\/p>\n\n\n\n
He also noted that European Commission President Ursula von der Leyen had offered a \u201czero-for-zero\u201d tariff deal on cars and industrial goods to defuse tensions.<\/p>\n\n\n\n
According to Sefcovic, the Commission has prepared a \u201crobust list of countermeasures,\u201d which will be voted on April 9 and formally adopted on April 15. The first wave of retaliatory duties will come into effect that day, with a second round following on May 15.<\/p>\n\n\n\n
Trump has framed his \u2018Liberation Day\u2019 tariffs as a move to restore balance to global trade, accusing other nations of \u201cripping off\u201d the US through \u201charmful policies.\u201d <\/p>\n\n\n\n
He argued that the bloc\u2019s total levies on US goods amounted to 39% and claimed that American firms pay more than $200 billion a year in value-added taxes across Europe.<\/p>\n\n\n\n
Von der Leyen called the tariffs a \u201cmajor blow to the world economy.\u201d Global stocks have tumbled since the tariff announcement, a selloff that deepened in many markets on Monday.<\/p>\n\n\n\n
Trump defended the move, writing on Monday on Truth Social that the levies were delivering significant economic gains.<\/p>\n\n\n\n