Reacting to the US announcement of so-called “reciprocal tariffs”, BusinessEurope Director General Markus J. Beyrer said:
“The US decision to impose an additional 20% tariff on EU products will harm businesses and consumers on both sides of the Atlantic. The Transatlantic economy is the largest and most important in the world. These tariffs will increase costs and harm the relationship that supports millions of jobs and fosters innovation. The unilateral decision to impose additional tariffs on all major US trading partners risks triggering retaliatory measures that will further disrupt global supply chains and undermine confidence in global trade, without delivering meaningful benefits to either side.
In its response, the EU must be united with a legally sound, proportionate, and targeted approach that avoids unintended consequences for EU economic operators. Ultimately, it is in the best interest of both the EU and US to reach a negotiated solution.
More urgently, the EU must continue to advance an ambitious trade and investment diversification strategy to build resilience and safeguard its economic interests. Swift ratification of the concluded agreements with Mercosur and Mexico is crucial in this respect. Given the current geopolitical context, the EU must strengthen its economy and competitiveness to enhance its negotiating leverage and reduce the risk of economic coercion.”
