The debate will take place a few hours after the entry into force of the worldwide rate, and a few hours before imposing the other taxes, which will be 20 % in the EU.
The Ministers of Trade of the European Union (EU) celebrate an extraordinary meeting in Luxembourg on Monday in which they will deal with the answer to the rate offensive of the United States, as well as the imbalance in commercial relations with China.
The debate takes place in the week after the announcement of US President Donald Trump to apply 20 % of the EU import rates, in addition to 25 % on steel, aluminum and the automotive sector.
The ministers are not expected to make a formal decision, although they will negotiate a common position to guide the European Commission in their response to Washington.
Among the options that Brussels Baraja is the new anti -instrument, a tool “last resort” that approved the EU two years ago to be able to respond to economic threats by third parties.
Some countries such as Spain and France have asked the EU to negotiate the effects of the Commercial War, but at the same time they have called to conclude trade agreements with other global partners such as Mercosur.
The European director has already announced that there will be two separate answers to the commercial war initiated by Washington.
Trump’s rates, country per country
Firstly, the EU will respond to the 25 % of the United States about the import of steel and aluminum predictable in this next week, after Member States gave their approval on Wednesday.
Subsequently, Brussels continues to prepare new retaliation to answer the rest of Trump rates, especially the “mutual” surcharge of 20 % that justifies Washington for domestic VAT or phytosanitary measures that the block forces to fulfill the block to fulfill within the internal market.
China
The ministers gathered in the Luxembourg Council will also discuss current commercial relations with China and will be informed by Commissioner Sefcovic after their visit to the country at the end of March.
After a meeting with his Chinese counterpart, Wentao, the European representative emphasized the importance of the community block in weaving a relationship based on “equal circumstances” and the “symmetrical opening of markets”.
In addition, as reported by the Chinese Ministry of Trade last week, the two partners came in to resume negotiations to reach a minimal price agreement on the electric vehicles of the Asian country.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
