The European Commission has proposed a deal to the United States to eliminate tariffs on all industrial goods, aiming to ease escalating trade tensions.
European Commission President Ursula von der Leyen stated that the offer is part of ongoing trade negotiations, emphasizing the EU’s readiness to negotiate while also prepared to defend its interests through countermeasures if necessary.
The trade tensions between the US and EU have been intensifying, with the US imposing a 20% across-the-board tariff on EU imports, set to take effect on April 9. Steel, aluminum, and cars face an additional 25% tariff rate, affecting over €380 billion worth of EU-made products. However, certain goods like pharmaceuticals, copper, lumber, semiconductors, and energy have been exempted.
The EU’s proposed “zero-for-zero” tariff deal aims to remove tariffs on industrial goods, an offer previously extended to the automotive sector without an adequate response from Washington. The Commission has expanded this offer to all industrial goods as talks intensify.
Von der Leyen described the US tariffs as a “major turning point” with significant costs for American consumers and businesses, potentially delivering a “massive” blow to the global economy.
The EU has dismissed the US logic behind the tariffs as “neither credible nor justified.” The situation remains uncertain, with ongoing negotiations between the US and EU.