The EU, Tariffs, and Trade

A collection of EU ministers are meeting in Bucharest to decide, among other things, how to retaliate against President Donald Trump’s tariff regime, which he has proposed implementing if the EU continues to not negotiate tariffs or US-EU trade in general.

German Economy Minister Peter Altmaier wants the ministers to act in unison, but he also has a more constructive view of how to approach negotiations with us.

…car tariffs between the US and Europe should be reduced and completely abolished.

Indeed.  It’s what the German auto industry wants, too, and Trump has on offer a completely tariff-free trade regime for the US and the EU.

The EU’s Trade Commission also estimates that were just the industrial goods tariffs, which average 4%, removed,

 exports in both directions could be boosted by 8% or 9% by 2033.

Trade Commissioner Cecilia Malmstrom:

We need to start negotiating[.]

So what’s the hold-up here?  Hmm….

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