Diplomacy in Action
, the EU's trade commissioner, emphasized the need for reciprocity and fair trade during a meeting with US officials, including Commerce Secretary and National Economic Council Director .
The discussions aimed to address concerns over Trump's proposed tariffs, which include adjusting import taxes to match European VAT and impose sectoral tariffs on autos, pharmaceuticals, and computer chips.
Navigating Trade Waters
Šefčovič highlighted the potential for a trade war to cause economic slowdown and inflation, affecting millions and possibly Trump's political support ahead of the 2024 elections.
The EU and US officials discussed collaboration on China's industrial overcapacity, particularly in steel, and stressed the importance of establishing a personal relationship to maintain positive momentum in trade negotiations.