Key Points
EU opposes Trump's aggressive trade tariffs on multiple countries
Transatlantic trade relations face significant potential conflict
Global economic stability threatened by protectionist policies
WTO and international trade rules potentially undermined
"The European Union (EU) regrets the US decision to impose tariffs on Canada, Mexico, and China," an EU spokesman was quoted by local media.
He highlighted the importance of "open markets and respect for international trade rules," saying they are essential for strong and sustainable economic growth. "Tariffs create unnecessary economic disruption and drive inflation. They are hurtful to all sides," he added.
Referring to potential US tariffs on EU products, the spokesman said "the EU would respond firmly to any trading partner that unfairly or arbitrarily imposes tariffs on EU goods."
"Our trade and investment relationship with the United States is the biggest in the world. There is a lot at stake," he was quoted as saying.
Since Trump's second term started, Brussels has been advocating that the two sides should work on strengthening the existing transatlantic relationships, and has dedicated efforts to avoiding a trade conflict with Washington through negotiation. However, Trump doubled down on his plan by saying he would "absolutely" impose tariffs on the EU goods last week.
On Saturday, Trump signed an executive order to impose a 10-per cent tariff hike on goods imported from China, and a 25-per cent tariff on goods from Mexico and Canada. The move has drawn widespread opposition and immediate retaliations, Xinhua news agency reported.
In response, China's Ministry of Commerce said Sunday that China will file a complaint at the World Trade Organisation and take corresponding countermeasures to firmly safeguard its rights and interests.
Canadian Prime Minister Justin Trudeau announced Saturday that Canada will impose a levy of 25 per cent on $21 billion worth of American goods as of Tuesday.
Mexican President Claudia Sheinbaum has instructed the Secretariat of Economy to implement tariff and non-tariff measures to defend Mexico's interests.
