BRUSSELS (BELGIUM) (ITALPRESS) – The European Commission considers the “reciprocal” trade tariffs proposed by U.S. President Donald Trump “a step in the wrong direction. The EU remains committed to an open and predictable global trading system for the benefit of all partners,” reads a note, which continues: “The EU maintains some of the lowest tariffs in the world and sees no justification for increasing U.S. tariffs on its exports. Tariffs are taxes. By imposing them, the U.S. is taxing its citizens, raising costs for businesses, stifling growth and fueling inflation. Tariffs increase economic uncertainty and disrupt the efficiency and integration of global markets. “For the European Commission, “world trade has flourished thanks to predictable and transparent rules and low tariffs. For decades, the EU has been working with trading partners such as the United States to reduce tariffs and other trade barriers around the world, reinforcing this openness through binding commitments in the rules-based trading system, commitments that the United States is now undermining. “The EU thrives as one of the most open economies in the world, with more than 70 percent of imports entering at zero tariffs,” Brussels points out. “The average tariff charged by the EU on imported goods remains among the lowest globally. Economic integration and the elimination of trade barriers have been key to the EU’s success. We believe in mutually beneficial and balanced trade partnerships 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 EEU has negotiated and concluded three times as many trade agreements as the United States. “The EU will react firmly and immediately against unjustified barriers to free and fair trade, even when tariffs are used to challenge legal and non-discriminatory policies,” the Commission concludes. The EU will always protect European businesses, workers and consumers from unjustified tariff measures.”
– IPA Agency Photos –
(ITALPRESS).
