Brussels prepares alternative strategy for trade with Washington in anticipation of Trump victory

According to the newspaper, this strategy will be in two stages. The European Union intends to accept the demands of the new administration, but is ready to toughen its approach if the United States continues to raise tariffs on various goods.

The European side believes that this approach would be the best response to Trump’s plans to impose a minimum tariff of 10% on all goods coming from the European Union.

According to the newspaper, the EU will contact Trump’s team immediately after the November presidential election, if he wins, to discuss which US goods the EU could buy in larger quantities and thus balance the EU-US trade balance. If Trump nevertheless decides to raise tariffs, the European Commission will provide the US with a list of goods on which the EU could raise tariffs to 50% or more in response.

“We have to show that there are no problems and that we are partners of the United States, and we will strive to reach agreements, but we are ready to defend ourselves if necessary,” an unnamed European official told the Financial Times.

The newspaper reported that during Trump’s first term in office from 2017 to 2021, trade between the United States and the European Union deteriorated significantly. The First Vice President of the European Commission, Valdis Dombrovskis, expressed his hope that a similar situation would not happen again. He told the newspaper: “We believe that the United States and the European Union are strategic allies. It is important for us to work together on trade, especially in the current geopolitical context.”

The newspaper points out that it will be difficult in any case to increase the volume of American exports to the European Union because the United States mainly provides services to European countries, not goods. The European Union exports medicines, cars, food products and expensive drinks, including alcohol, to the United States.

A while ago, Trump threatened Europe and China with more tariffs on their products if he returned to the White House in the November 2024 elections.

Source: RT