Reacting to the US announcement, BusinessEurope Director General Markus J. Beyrer, said: “Additional US tariffs on steel and aluminium are a lose-lose for both sides of the Atlantic”.
“It is in our joint interest to reduce the costs of trading and investing across the Atlantic to support investments and jobs in both Europe and the US. This is why imposing tariffs is a lose-lose scenario for both sides.
Europe must now assess the consequences of these actions and be unified in its response. The key priority for the EU is to safeguard its interests, with the ultimate objective of finding a negotiated solution.
It is also essential that the EU diversifies its import and export markets to mitigate risks and become more resilient. Both the Mercosur and Mexico Agreements are good examples of this, and we must all take responsibility and work towards their swift ratification.
At a time of such geopolitical uncertainty, the EU needs to urgently strengthen its economy and competitiveness to protect itself from economic coercion.”
