European Union trade commissioner Maros Sefcovic has warned that President Donald Trump’s proposed 3,000% tariffs on EU exports could severely damage transatlantic trade. The commissioner stated that the EU was close to finalizing a trade agreement with the Trump administration prior to the president’s recent threats, which have disrupted the negotiations. This development highlights growing concerns over Trump’s protectionist policies and their potential impact on global trade relations.
The potential 30% tariffs, which could affect a wide range of goods including automotive and agricultural products, have raised fears among European businesses and policymakers. Sefcovic emphasized the need for a solution that would protect both sides’ economic interests while maintaining fair trade practices. The EU has repeatedly called for a compromise to avoid escalating trade tensions that could lead to retaliatory measures from European countries.