EU demands trade deals based on “respect” following Trump’s tariff threat

The EU trade chief said the 27-member group is committed to securing trade agreements with the United States based on “respect” rather than “threat.”

This is when U.S. President Donald Trump threatens to have 50% tariffs on all goods sent to the United States from the EU.

“The EU is fully engaged and committed to ensuring that transactions are valid for both,” EU Trade Commissioner Maros Sefcovic said after a call with U.S. Trade Representative Jamieson Greer and Commerce Director Howard Lutnick.

“EU-US trade is unparalleled and must be guided by mutual respect rather than threats. We are ready to defend our interests.”

Earlier on Friday, Trump said he was impatient with the speed of ongoing EU trade negotiations, saying his plan to raise tariffs on June 1 was set.

Trump posted on his Truth Social Platform: “Our discussion with them (the EU) is everywhere,” he added that products made or made in the United States do not care.

“I’m not looking for a deal – we’ve reached an agreement,” he said, telling reporters later, before immediately adding that a large amount of investments from European companies in the United States could delay him.

The EU, one of Washington’s largest trading partners, sent more than $60 billion (€52.8 billion; £4.443 billion) of goods last year, worth $370 billion.

The European government responded to Trump’s threat, warning that higher tariffs would cause damage to both sides.

“We don’t need to go this path. Negotiation is the best, the only path to sustainable development,” said Michel Martin, of Ireland.

“We kept the same route: downgrade, but we were ready to respond,” French Foreign Minister Laurent Saint-Martin said.

“We must do everything we can to ensure that the European Commission and the United States reach a negotiated solution,” said German Economy Minister Katherina Reiche.

Dutch Prime Minister Dick Schoof told reporters that he supported the EU’s strategy in trade negotiations, “We have seen tariffs go up and down in negotiations with the United States.”

Last month, Trump announced a 20% tariff on most EU goods, but reduced it to July 8 so that more negotiations can be made.

Trump’s complaints to Europe focus on its unbalanced trade relations, as the EU sells more goods to the United States than they buy from the United States.

He blamed the trade deficit on what he said was unfair to U.S. companies and specifically raised concerns about policies related to automobiles and agricultural products.

Trump also warned Apple that he would impose a 25% import tax on iPhones not produced in the United States, and later expanded the threat to any smartphone.

U.S. and EU shares fell on Friday, with the S&P 500 falling about 0.7%, with Germany’s DAX and France’s CAC 40 ending the day’s decline by more than 1.5%.