Reprisals do not yet meet Trump’s taxation of 20% of “reciprocal” prices on all EU exports, which entered into force on Wednesday, and its last 25% price on cars. Trump also said that pharmaceutical products are coming soon.
The European Commission plans to present its countermeasures on these rates next week. “It will certainly be soon. I expect it to be next week,” Trade spokesman Olof Gill said on Tuesday.
Trump demands that the EU reduces its trade surplus with the United States, for example by buying unrealistic quantities of gas or by reducing safety standards on cars.
While Europe indeed sells more property to the Americans, the United States in turn enjoyed a surplus with regard to services. Overall, the commercial relationship of 1.3 Billion of euros is only prohibited by 50 billion euros. The president of the Ursula von der Leyen commission has revived this week the idea of removing all industrial prices – in a “zero” agreement – on a mutual basis.
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