The European Commission has strongly criticized President Trump's proposed "reciprocal" trade policy, calling it a step in the wrong direction. In a recent statement, the EU reaffirmed its commitment to an open, fair and predictable global trading system that benefits all partners. The EU has some of the lowest tariffs in the world and sees no reason for the US to impose higher tariffs on European exports.
Trump's "reciprocal" trade policy, which aims to retaliate against countries that impose high tariffs on US products, has raised concerns in Europe. The European Commission has warned that such measures would not only hurt global trade but also hit US consumers and businesses.
The European Commission argues that tariffs are essentially taxes on consumers and businesses, which in turn increase costs, hinder growth and fuel inflation. These measures will increase economic uncertainty, undermine the efficiency and integration of global markets, and make it more difficult for businesses to operate and prosper.
The EU's response is part of its broader stance on international trade relations. The European Commission stressed that trade policies should not increase tariffs, but should be based on cooperation and mutual respect to ensure that all parties involved benefit.
As the global economy continues to face challenges, the EU remains convinced that open markets and predictable trading relationships are key to long-term growth. The European Commission has made clear that it will continue to advocate for a rules-based global trading system and refrain from protectionist measures that harm both sides of the market.
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