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EU vs. USA: Trade experts call for breakthrough in customs dispute!
Talks to resolve open customs issues are imminent in the trade conflict between the EU and the USA. An overview of current developments.
EU vs. USA: Trade experts call for breakthrough in customs dispute!
In the current customs conflict between the EU and the USA, both sides are struggling to find a solution in order to avoid an escalation of the trade dispute. The EU is ready to maintain talks and conclude an agreement sueddeutsche.de reported. A telephone call between EU Trade Commissioner Maros Sefcovic and US Trade Secretary Howard Lutnick is scheduled to take place on Monday afternoon. EU Commission President Ursula von der Leyen said on Platform X that Europe was willing to move forward with the talks quickly.
In the coming negotiations, the EU offer to lift all tariffs on industrial goods will remain in place. This is happening against the background that Federal Economics Minister Katherina Reiche and SPD leader and Finance Minister Lars Klingbeil are demanding a quick result. Reiche has also assured Germany's support for negotiations with the EU Commission. The two politicians expressed optimism about the negotiations, especially after President Trump previously threatened punitive tariffs of 50 percent from June 1, but postponed them for a month.
Trade conflict and its effects
Both sides aim to find a solution by July 9 to prevent a possible escalation. Additional import fees currently apply to steel, aluminum and cars from the EU as well as 10 percent to all products. Bernd Lange, chairman of the Trade Committee in the European Parliament, described the US threats as unjustified and stressed the urgency of a framework agreement by that deadline to avoid serious economic consequences. Laura von Daniels, US trade expert, highlights the need for joint action by EU member states in order to negotiate successfully.
The impact of US economic policy should not be underestimated. tagesschau.de refers to an alarming survey by the VDMA, according to which three out of four German companies are unsettled by the American trade strategy. The German automotive industry in particular is significantly affected, as many manufacturers produce in Mexico and Canada. This could lead to an increase in goods subject to payment should the announced tariffs come into effect.
Trump also criticizes the trade deficit with Europe, which is around 160 billion euros. According to the Kiel Institute for the World Economy, a transatlantic trade conflict could be more severe for the EU than for the USA. While the EU stands by offering cooperation, including buying more liquefied natural gas (LNG) and reducing tariffs on US cars, uncertainty over US policy remains palpable. The current tariff rate on U.S. cars is 10 percent, while the U.S. tariff rate is only 2.5 percent.
Given these tensions, the EU has taken extensive measures to respond quickly to the trade disputes. The Commission has set up a task force and adopted a new law against economic coercion. This shows that the EU is better prepared for Trump's restrictions than during his first term in office. Chancellor Olaf Scholz has emphasized that the EU has the opportunity to respond with its own customs policies if negotiations fail.