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Maros Sefcovic, European Commissioner for Trade and Economic Security; Interinstitutional Relations and Transparency, speaks to journalists in Singapore on May 7, 2025, after signing of the EU-Singapore Digital Trade Agreement (DTA), a landmark initiative bettering virtual financial cooperation between the European Union and Singapore.
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The European Union’s government arm will announce additional main points of its proposed countermeasures to U.S. price lists in a Thursday replace, European Trade Commissioner Maros Sefcovic mentioned Wednesday.
“Tomorrow we will announce next preparatory steps, both in [the] area of possible rebalancing measures and also in the areas important for further discussions,” Sefcovic mentioned right through a information convention in Singapore on Wednesday.
Sefcovic mentioned the EU persisted to “prepare for any scenario” if present industry talks fail.
“Negotiations clearly come first but not at any cost,” he informed journalists, including that the bloc’s “lazer-focused approach” was once nonetheless to discover a negotiated answer with Washington.
“We are working very closely with our member states, consulting industry, talking to our key stakeholders to ensure we are ready for whatever comes next,” Sefcovic mentioned.
Trump to start with imposed a 20% “reciprocal” tariff on all items coming from the EU however on April 9 paused the measures for 90 days for negotiations, reducing the obligation to 10% till that point. A 25% tariff on international vehicles in addition to metal and aluminum imports stays in position.
The EU has recently paused its preliminary set of retaliatory measures — a reaction to the metals tasks — which goal round 21 billion euros ($24.1 billion) value of U.S. items, mainly with a tariff charge of 25%.
