- EU remains committed to an open and predictable global trading system that benefits everyone
- EU will react firmly and immediately against unjustified barriers to free and fair trade
The thing about reciprocal tariffs is that it is more likely to hit harder against other US allies like India and Southeast Asia. So, that raises skepticism about its implementation and allows for more room to negotiate perhaps. Europe is on the next tier in that list but Trump’s gripe seems to be more on VAT, which is a whole other issue as seen here.
This article was written by Justin Low at www.forexlive.com.
