European Commission Warns Of Implications Of US Tariffs

(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, July 12 (KUNA) -- The European Commission warned that it will not hesitate to take all necessary steps to safeguard the European Union's interests, including the adoption of proportionate countermeasures should the United States proceed with new tariffs on EU exports.
EC President Ursula von der Leyen said, in a press release on Saturday, the EU takes note of the letter sent by US President Donald Trump outlining a revised tariff rate and a new timeline.
"Imposing 30 percent tariffs on EU exports would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers and patients on both sides of the Atlantic," she cautioned.
She noted that few economies in the world match the European Union's level of openness and adherence to fair trading practices.
Brussels has consistently prioritized a negotiated solution with Washington "reflecting our commitment to dialogue, stability, and a constructive transatlantic partnership," she went on.
Von der Leyen added that the EU remains ready to continue working towards an agreement by 1st August, but will remain vigilant regarding any unilateral steps that could harm its economic interests.
She concluded by reaffirming that the EU would, in the meantime, continue to deepen its global partnerships, firmly anchored in the principles of rules-based international trade.
US President Donald Trump announced earlier today his intention to impose a 30 percent tariff on the EU and Mexico.
In a message posted on his platform Truth Social, Trump stated that the tariffs would take effect on August 1, citing what he described as an imbalance in trade with the EU. (end)
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